West Wealth Group LLC Invests $261,000 in Chevron Co. (NYSE:CVX)

West Wealth Group LLC bought a new stake in Chevron Co. (NYSE:CVX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,770 shares of the oil and gas company’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Chevron by 3.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 889,441 shares of the oil and gas company’s stock valued at $140,300,000 after purchasing an additional 30,503 shares during the period. Vanguard Capital Wealth Advisors raised its holdings in shares of Chevron by 6.7% during the first quarter. Vanguard Capital Wealth Advisors now owns 3,565 shares of the oil and gas company’s stock valued at $562,000 after purchasing an additional 225 shares during the period. Cypress Wealth Services LLC raised its holdings in shares of Chevron by 8.6% during the first quarter. Cypress Wealth Services LLC now owns 9,731 shares of the oil and gas company’s stock valued at $1,535,000 after purchasing an additional 767 shares during the period. Baugh & Associates LLC raised its holdings in shares of Chevron by 1.0% during the first quarter. Baugh & Associates LLC now owns 27,575 shares of the oil and gas company’s stock valued at $4,350,000 after purchasing an additional 260 shares during the period. Finally, Hennessy Advisors Inc. raised its holdings in shares of Chevron by 7.3% during the first quarter. Hennessy Advisors Inc. now owns 67,532 shares of the oil and gas company’s stock valued at $10,652,000 after purchasing an additional 4,600 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $150.82 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $277.96 billion, a PE ratio of 13.87, a P/E/G ratio of 3.30 and a beta of 1.09. The company’s 50 day simple moving average is $146.51 and its two-hundred day simple moving average is $153.43.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. UBS Group boosted their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Truist Financial reduced their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Profile

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.