Girard Partners LTD. grew its stake in Chevron Co. (NYSE:CVX – Free Report) by 42.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,953 shares of the oil and gas company’s stock after buying an additional 2,968 shares during the quarter. Girard Partners LTD.’s holdings in Chevron were worth $1,678,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in CVX. NorthCrest Asset Manangement LLC lifted its stake in shares of Chevron by 247.8% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 3,400 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 5,700 shares during the last quarter. DHJJ Financial Advisors Ltd. purchased a new position in shares of Chevron in the 3rd quarter valued at $35,000. Worth Asset Management LLC purchased a new position in shares of Chevron in the 1st quarter valued at $36,000. Legacy Financial Group LLC purchased a new position in Chevron during the 3rd quarter worth $43,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Chevron during the 2nd quarter worth $50,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.
Wall Street Analyst Weigh In
CVX has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Chevron from $203.00 to $201.00 and set an “equal weight” rating for the company in a report on Tuesday, October 17th. UBS Group reduced their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Sanford C. Bernstein raised Chevron from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $184.00 to $182.00 in a report on Thursday, November 2nd. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a report on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.53.
Read Our Latest Analysis on Chevron
Chevron Trading Up 0.2 %
Shares of NYSE:CVX opened at $142.49 on Tuesday. The stock has a market capitalization of $268.99 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 0.72 and a beta of 1.12. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $187.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25. The company has a 50 day moving average price of $146.43 and a 200 day moving average price of $155.23.
Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $3.05 EPS for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). Chevron had a return on equity of 16.15% and a net margin of 12.11%. The firm had revenue of $54.08 billion during the quarter, compared to analyst estimates of $51.41 billion. During the same period in the prior year, the business posted $5.56 EPS. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 12.99 EPS for the current fiscal year.
Chevron Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were given a $1.51 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $6.04 dividend on an annualized basis and a yield of 4.24%. Chevron’s payout ratio is 44.84%.
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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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