Empirical Finance LLC Buys 1,115 Shares of Chevron Co. (NYSE:CVX)

Empirical Finance LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,065 shares of the oil and gas company’s stock after buying an additional 1,115 shares during the period. Empirical Finance LLC’s holdings in Chevron were worth $8,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter valued at about $29,000. Anfield Capital Management LLC lifted its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in Chevron in the third quarter valued at approximately $47,000. Finally, Krane Funds Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at $47,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.2 %

Shares of CVX opened at $161.43 on Friday. The stock has a market cap of $290.10 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a 50 day simple moving average of $148.51 and a 200-day simple moving average of $152.65.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the business posted $3.05 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. UBS Group increased their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.93.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.