Sterneck Capital Management LLC Acquires 712 Shares of Chevron Co. (NYSE:CVX)

Sterneck Capital Management LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 12.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,508 shares of the oil and gas company’s stock after buying an additional 712 shares during the quarter. Sterneck Capital Management LLC’s holdings in Chevron were worth $958,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Eagle Capital Management LLC lifted its position in Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the last quarter. Lane & Associates LLC purchased a new stake in shares of Chevron during the 1st quarter valued at $345,000. KCM Investment Advisors LLC boosted its position in shares of 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 worth $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in Chevron during the 4th quarter worth $46,000. Finally, Hosking Partners LLP purchased a new position in Chevron during the 1st quarter worth $4,924,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.2 %

Chevron stock opened at $151.22 on Friday. The business’s 50-day moving average price is $146.13 and its 200 day moving average price 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. The firm has a market cap of $278.69 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the business earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Wall Street Analyst Weigh In

A number of research firms have commented on CVX. Truist Financial decreased their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday. UBS Group lowered their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays decreased their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.00.

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.