Foster Victor Wealth Advisors LLC Purchases 6,486 Shares of Chevron Co. (NYSE:CVX)

Foster Victor Wealth Advisors LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 12.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,740 shares of the oil and gas company’s stock after buying an additional 6,486 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Chevron were worth $9,090,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CVX. American Capital Advisory LLC raised 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 buying an additional 125 shares during the last quarter. Anfield Capital Management LLC increased its stake 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 purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its stake 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 purchasing an additional 100 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Chevron in the first quarter valued at $55,000. Finally, Richardson Capital Management LLC bought a new stake in Chevron in the first quarter valued at $58,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 2.7 %

Chevron stock opened at $147.73 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The stock has a market cap of $272.26 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The firm’s 50-day simple moving average is $145.70 and its 200 day simple moving average is $153.82. 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 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). 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%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.08 earnings per share. Research analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The firm 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 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CVX shares. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Truist Financial decreased their price target 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. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $176.81.

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.