Chevron Co. (NYSE:CVX) Shares Purchased by Reliant Investment Management LLC

Reliant Investment Management LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,648 shares of the oil and gas company’s stock after buying an additional 79 shares during the period. Reliant Investment Management LLC’s holdings in Chevron were worth $243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. O Keefe Stevens Advisory Inc. increased its position in shares of Chevron by 7.4% during the third quarter. O Keefe Stevens Advisory Inc. now owns 1,537 shares of the oil and gas company’s stock worth $226,000 after acquiring an additional 106 shares during the period. Insight Wealth Strategies LLC boosted its holdings in Chevron by 0.5% in the third quarter. Insight Wealth Strategies LLC now owns 199,923 shares of the oil and gas company’s stock valued at $29,443,000 after purchasing an additional 1,073 shares during the period. Legacy Private Trust Co. grew its stake in Chevron by 3.1% during the 3rd quarter. Legacy Private Trust Co. now owns 49,192 shares of the oil and gas company’s stock worth $7,245,000 after purchasing an additional 1,467 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Chevron by 0.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 114,935 shares of the oil and gas company’s stock worth $16,926,000 after purchasing an additional 603 shares during the period. Finally, Axiom Advisory LLC raised its position in Chevron by 2.8% in the 3rd quarter. Axiom Advisory LLC now owns 212,346 shares of the oil and gas company’s stock valued at $31,606,000 after purchasing an additional 5,746 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.6 %

Shares of NYSE CVX opened at $148.76 on Wednesday. The stock has a market cap of $274.16 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The business has a 50-day moving average price of $145.88 and a 200 day moving average price of $154.09. 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 (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.08 earnings per share. Equities research analysts forecast that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 dividend on an annualized basis and a yield of 4.38%. Chevron’s dividend payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Scotiabank lowered their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. UBS Group increased their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company decreased their price objective 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. Finally, Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Six investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.59.

Chevron 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.