HBW Advisory Services LLC Has $2.60 Million Stake in Chevron Co. (NYSE:CVX)

HBW Advisory Services LLC raised its position in Chevron Co. (NYSE:CVX) by 304.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,625 shares of the oil and gas company’s stock after acquiring an additional 13,266 shares during the quarter. HBW Advisory Services LLC’s holdings in Chevron were worth $2,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVX. J. W. Coons Advisors LLC raised its stake in Chevron by 1.4% in the 4th quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock valued at $1,059,000 after acquiring an additional 100 shares during the period. Morningstar Investment Services LLC raised its position in shares of Chevron by 99.0% in the fourth quarter. Morningstar Investment Services LLC now owns 251,978 shares of the oil and gas company’s stock valued at $37,739,000 after purchasing an additional 125,344 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at about $30,000. Beacon Investment Advisors LLC boosted its holdings in shares of Chevron by 2.6% during the 4th quarter. Beacon Investment Advisors LLC now owns 4,190 shares of the oil and gas company’s stock worth $625,000 after buying an additional 105 shares during the period. Finally, Delaney Dennis R boosted its holdings in shares of Chevron by 13.3% during the fourth quarter. Delaney Dennis R now owns 22,163 shares of the oil and gas company’s stock worth $3,306,000 after acquiring an additional 2,595 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. 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. UBS Group dropped their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday. Royal Bank of Canada lowered their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Seven 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

Chevron Price Performance

Shares of NYSE CVX traded down $0.90 during trading hours on Friday, reaching $150.35. 4,629,054 shares of the stock traded hands, compared to its average volume of 7,813,104. The company has a market capitalization of $277.09 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company’s 50-day simple moving average is $146.13 and its two-hundred day simple moving average is $154.17. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17.

Chevron (NYSE:CVX) last posted its quarterly 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 business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.08 earnings per share. Equities research analysts forecast that Chevron Co. will post 11.02 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.34%. Chevron’s payout ratio is presently 59.98%.

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.