Houlihan Financial Resource Group Ltd. purchased a new position in Chevron Co. (NYSE:CVX - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,283 shares of the oil and gas company's stock, valued at approximately $631,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Marietta Wealth Management LLC raised its stake in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company's stock worth $5,962,000 after buying an additional 3,965 shares during the period. Leo Wealth LLC lifted its holdings in shares of Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company's stock worth $1,214,000 after purchasing an additional 1,354 shares in the last quarter. KCM Investment Advisors LLC grew its position in Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company's stock valued at $52,299,000 after purchasing an additional 8,168 shares during the period. Garner Asset Management Corp increased its stake in Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company's stock valued at $3,128,000 after purchasing an additional 2,530 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its holdings in Chevron by 3.2% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company's stock worth $16,930,000 after buying an additional 3,561 shares during the last quarter. 72.42% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on CVX. UBS Group boosted their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They set a "peer perform" rating for the company. DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a "buy" rating and a $168.00 target price on the stock. Finally, Sanford C. Bernstein lowered Chevron from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Four 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $174.93.
Get Our Latest Report on CVX
Chevron stock opened at $156.93 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $287.01 billion, a P/E ratio of 17.25, a P/E/G ratio of 3.53 and a beta of 1.09. The firm has a 50 day moving average price of $147.80 and a 200-day moving average price of $152.89. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.
Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the business posted $3.05 earnings per share. The business's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Monday, November 18th. Chevron's dividend payout ratio is currently 71.65%.
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.
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