Cascade Investment Advisors Inc. Boosts Stock Position in Chevron Co. (NYSE:CVX)

Cascade Investment Advisors Inc. grew its stake in Chevron Co. (NYSE:CVX) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,157 shares of the oil and gas company’s stock after acquiring an additional 755 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Chevron were worth $1,201,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CVX. Massmutual Trust Co. FSB ADV increased its holdings in shares of Chevron by 1.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 318,703 shares of the oil and gas company’s stock worth $46,935,000 after purchasing an additional 5,539 shares in the last quarter. Trust Co. of Toledo NA OH raised its position in Chevron by 1.3% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 72,128 shares of the oil and gas company’s stock worth $10,622,000 after buying an additional 948 shares during the last quarter. Ables Iannone Moore & Associates Inc. lifted its stake in Chevron by 3.7% during the 3rd quarter. Ables Iannone Moore & Associates Inc. now owns 8,073 shares of the oil and gas company’s stock valued at $1,189,000 after acquiring an additional 287 shares during the period. American National Bank & Trust grew its stake in shares of Chevron by 15.7% in the third quarter. American National Bank & Trust now owns 92,874 shares of the oil and gas company’s stock worth $13,678,000 after acquiring an additional 12,601 shares during the period. Finally, McAlister Sweet & Associates Inc. lifted its position in Chevron by 12.3% during the third quarter. McAlister Sweet & Associates Inc. now owns 28,400 shares of the oil and gas company’s stock valued at $4,182,000 after purchasing an additional 3,109 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX opened at $150.97 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The business has a 50 day simple moving average of $146.26 and a two-hundred day simple moving average of $154.19. The stock has a market capitalization of $276.11 billion, a PE ratio of 13.89, a P/E/G ratio of 2.64 and a beta of 1.09.

Chevron (NYSE:CVX) last announced 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). The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.08 earnings per share. On average, research analysts predict that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Barclays reduced their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. UBS Group cut their price target on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company cut 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. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $180.00.

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.