Chevron Co. (NYSE:CVX) Shares Purchased by Advocate Group LLC

Advocate Group LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,574 shares of the oil and gas company’s stock after acquiring an additional 1,170 shares during the period. Chevron makes up 1.6% of Advocate Group LLC’s portfolio, making the stock its 21st biggest position. Advocate Group LLC’s holdings in Chevron were worth $8,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cypress Wealth Services LLC boosted its position in shares of Chevron by 13.1% in the third quarter. Cypress Wealth Services LLC now owns 10,701 shares of the oil and gas company’s stock worth $1,576,000 after buying an additional 1,241 shares during the period. Morton Capital Management LLC CA lifted its position in Chevron by 6.0% during the 3rd quarter. Morton Capital Management LLC CA now owns 3,550 shares of the oil and gas company’s stock worth $523,000 after acquiring an additional 202 shares in the last quarter. Atlas Private Wealth Advisors boosted its holdings in Chevron by 0.7% in the 3rd quarter. Atlas Private Wealth Advisors now owns 11,375 shares of the oil and gas company’s stock worth $1,675,000 after acquiring an additional 78 shares during the period. Kelly Financial Services LLC grew its position in Chevron by 10.6% in the third quarter. Kelly Financial Services LLC now owns 2,648 shares of the oil and gas company’s stock valued at $390,000 after acquiring an additional 253 shares in the last quarter. Finally, Patten Group Inc. raised its stake in shares of Chevron by 9.0% during the third quarter. Patten Group Inc. now owns 24,245 shares of the oil and gas company’s stock valued at $3,571,000 after purchasing an additional 1,995 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank lowered their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays dropped their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $178.59.

Chevron Stock Performance

Shares of Chevron stock traded up $1.00 on Thursday, reaching $150.65. 705,987 shares of the company were exchanged, compared to its average volume of 7,760,161. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The firm has a market cap of $275.53 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company’s 50-day moving average is $145.45 and its two-hundred day moving average is $154.02.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 earnings per share. As a group, research analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 4.33%. Chevron’s payout ratio is currently 59.98%.

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.