QV Investors Inc. Purchases 140 Shares of Chevron Co. (NYSE:CVX)

QV Investors Inc. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,897 shares of the oil and gas company’s stock after purchasing an additional 140 shares during the quarter. QV Investors Inc.’s holdings in Chevron were worth $3,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Pacifica Partners Inc. raised its position in Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC increased its stake in shares of Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC raised its holdings in Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC lifted its position in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group grew its holdings in Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVX. Truist Financial lowered their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. UBS Group lifted their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $176.81.

Chevron Price Performance

Chevron stock opened at $147.73 on Wednesday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a market cap of $272.26 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.72 and a beta of 1.09. The firm’s fifty day moving average is $145.70 and its 200 day moving average is $153.82. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the business posted $3.08 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis 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 59.98%.

Chevron Profile

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.