Chevron Co. (NYSE:CVX) Shares Purchased by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lifted its stake in shares of Chevron Co. (NYSE:CVX) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 140,987 shares of the oil and gas company’s stock after buying an additional 9,650 shares during the quarter. Chevron accounts for approximately 1.5% of Valley Wealth Managers Inc.’s holdings, making the stock its 21st largest holding. Valley Wealth Managers Inc.’s holdings in Chevron were worth $20,763,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after acquiring an additional 501,969 shares during the period. Capital World Investors grew its position in Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after acquiring an additional 495,879 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Chevron by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares during the period. Capital International Investors boosted its holdings in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Chevron by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after purchasing an additional 126,889 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Finally, Wells Fargo & Company lowered their price objective 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 research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Down 0.1 %

Shares of NYSE CVX traded down $0.11 during mid-day trading on Friday, reaching $161.69. 858,468 shares of the company’s stock were exchanged, compared to its average volume of 7,641,052. The company’s 50-day moving average is $148.93 and its 200-day moving average is $152.71. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. 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 market capitalization of $290.57 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 3.57 and a beta of 1.09.

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

Chevron Dividend Announcement

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 issued a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.03%. Chevron’s dividend payout ratio is presently 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.