United Bank Buys 629 Shares of Chevron Co. (NYSE:CVX)

United Bank raised its stake in Chevron Co. (NYSE:CVX) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,095 shares of the oil and gas company’s stock after acquiring an additional 629 shares during the quarter. United Bank’s holdings in Chevron were worth $1,192,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CVX. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter valued at approximately $29,000. Anfield Capital Management LLC raised its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its holdings in Chevron by 66.7% in 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 during the last quarter. Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter valued at approximately $47,000. Finally, Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter valued at approximately $47,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $156.95 on Friday. The company has a market cap of $287.05 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 3.53 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. 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 firm has a 50 day moving average of $147.80 and a 200-day moving average of $152.89.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) 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 13.07%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm posted $3.05 EPS. Chevron’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 10.59 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CVX shares. Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Finally, UBS Group raised their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price 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.