Chevron Co. (NYSE:CVX) Shares Acquired by PFG Advisors

PFG Advisors lifted its stake in shares of Chevron Co. (NYSE:CVX) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,340 shares of the oil and gas company’s stock after buying an additional 2,084 shares during the period. PFG Advisors’ holdings in Chevron were worth $5,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. American Capital Advisory LLC raised its holdings in shares of 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 purchasing an additional 125 shares during the last quarter. Anfield Capital Management LLC increased its holdings in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its holdings in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Chevron in the first quarter valued at $55,000. Finally, Richardson Capital Management LLC purchased a new position in Chevron in the first quarter valued at $58,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVX. Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. UBS Group boosted their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial cut their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $176.81.

Chevron Price Performance

Chevron stock opened at $147.73 on Wednesday. The company’s 50 day simple moving average is $145.70 and its 200-day simple moving average is $153.82. The company has a market capitalization of $272.26 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last released its quarterly 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 analysts’ expectations 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 last year, the firm posted $3.08 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 11.09 earnings per share 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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 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.