Chevron Co. (NYSE:CVX) Position Raised by EWG Elevate Inc.

EWG Elevate Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 49.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,666 shares of the oil and gas company’s stock after purchasing an additional 888 shares during the quarter. EWG Elevate Inc.’s holdings in Chevron were worth $393,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Eagle Capital Management LLC boosted its holdings 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 worth $5,435,000 after buying an additional 163 shares in the last quarter. Lane & Associates LLC acquired a new stake in shares of Chevron during the first quarter worth $345,000. KCM Investment Advisors LLC lifted its holdings in shares of Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Chevron during the fourth quarter valued at $46,000. Finally, Hosking Partners LLP acquired a new position in shares of Chevron in the 1st quarter valued at $4,924,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVX. Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Barclays decreased their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. UBS Group reduced their target price on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Scotiabank lowered their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $179.00.

Chevron Stock Up 0.3 %

Shares of CVX stock traded up $0.40 on Monday, hitting $151.14. The company’s stock had a trading volume of 5,891,061 shares, compared to its average volume of 7,820,800. The stock has a market capitalization of $278.55 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.72 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The firm’s fifty day moving average price is $145.99 and its 200-day moving average price is $154.11. 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 results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the firm earned $3.08 EPS. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is 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.