Nixon Peabody Trust Co. Purchases 7,432 Shares of Chevron Co. (NYSE:CVX)

Nixon Peabody Trust Co. grew its position in shares of Chevron Co. (NYSE:CVX) by 11.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,522 shares of the oil and gas company’s stock after buying an additional 7,432 shares during the period. Nixon Peabody Trust Co.’s holdings in Chevron were worth $10,680,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rational Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth about $29,000. Anfield Capital Management LLC increased its position in shares of Chevron by 118.0% during the 2nd 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 raised its holdings in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron in the 3rd quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory purchased a new stake in Chevron in the third quarter worth approximately $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. UBS Group increased their target price on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. 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. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Performance

Shares of CVX stock traded down $1.79 during mid-day trading on Monday, reaching $159.63. 666,713 shares of the company’s stock traded hands, compared to its average volume of 7,645,542. The firm has a market capitalization of $286.87 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a 50 day moving average price of $149.39 and a two-hundred day moving average price of $152.57. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. Chevron’s payout ratio is 71.65%.

Chevron Company 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.