Chevron Co. (NYSE:CVX) Shares Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,703 shares of the oil and gas company’s stock after acquiring an additional 372 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Chevron were worth $3,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Capital Advisory LLC increased its stake in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the last quarter. Anfield Capital Management LLC increased its stake in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $40,000. Finally, Vima LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $44,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.3 %

Shares of NYSE CVX opened at $151.14 on Tuesday. The company has a market cap of $278.55 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $145.99 and its 200 day simple moving average is $154.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) 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 the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business posted $3.08 EPS. Equities research analysts expect that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. 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. UBS Group lowered their target price on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company lowered their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Royal Bank of Canada lowered their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.