Saxon Interests Inc. Purchases 148 Shares of Chevron Co. (NYSE:CVX)

Saxon Interests Inc. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,229 shares of the oil and gas company’s stock after buying an additional 148 shares during the quarter. Chevron accounts for approximately 1.2% of Saxon Interests Inc.’s holdings, making the stock its 17th largest holding. Saxon Interests Inc.’s holdings in Chevron were worth $2,685,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American Capital Advisory LLC lifted its stake in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Anfield Capital Management LLC lifted its position in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Cooksen Wealth LLC bought a new position in Chevron during the 4th quarter worth about $40,000. Finally, Vima LLC acquired a new stake in shares of Chevron in the 4th quarter valued at about $44,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVX shares. Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company decreased 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. UBS Group upped their target price on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $178.59.

Chevron Stock Performance

Chevron stock traded down $0.06 during midday trading on Wednesday, hitting $148.69. The company’s stock had a trading volume of 1,072,091 shares, compared to its average volume of 7,776,330. The company has a 50-day moving average price of $145.66 and a two-hundred day moving average price of $154.05. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The company has a market cap of $274.03 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 2.72 and a beta of 1.09. 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 (NYSE:CVX) last announced 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 company 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% on a year-over-year basis. During the same period in the prior year, the firm earned $3.08 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

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.