Vest Financial LLC Has $49.84 Million Holdings in Chevron Co. (NYSE:CVX)

Vest Financial LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 18.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 338,454 shares of the oil and gas company’s stock after purchasing an additional 51,669 shares during the quarter. Vest Financial LLC’s holdings in Chevron were worth $49,844,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CVX. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% during 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 boosted its stake in shares of Chevron by 66.7% during 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. Krane Funds Advisors LLC acquired a new stake in shares of Chevron during the third quarter valued at about $47,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron during the first quarter valued at about $55,000. Finally, Richardson Capital Management LLC acquired a new stake in shares of Chevron during the first quarter valued at about $58,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. UBS Group lifted their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays cut their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Truist Financial cut their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Down 0.3 %

NYSE CVX traded down $0.45 during mid-day trading on Friday, hitting $150.75. The company’s stock had a trading volume of 5,208,202 shares, compared to its average volume of 7,706,832. The firm has a market capitalization of $277.83 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. The company’s 50 day simple moving average is $146.07 and its 200 day simple moving average is $153.66. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.08 earnings per share. Analysts anticipate that Chevron Co. will post 11.06 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend 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.