West Branch Capital LLC Has $1.20 Million Stock Position in Chevron Co. (NYSE:CVX)

West Branch Capital LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 11.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,178 shares of the oil and gas company’s stock after acquiring an additional 827 shares during the quarter. West Branch Capital LLC’s holdings in Chevron were worth $1,204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pacifica Partners Inc. boosted its holdings in shares of Chevron by 1.8% in the 1st 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 in the last quarter. Private Wealth Management Group LLC boosted its holdings 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 acquiring an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC boosted its holdings in shares of 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 acquiring an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC boosted its holdings in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares in the last quarter. Finally, Mayfair Advisory Group LLC boosted its holdings in shares of Chevron by 0.7% in the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after acquiring an additional 65 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Barclays dropped their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday. They issued a “buy” rating and a $168.00 price objective for the company. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Trading Down 0.3 %

Shares of CVX traded down $0.45 during trading hours on Friday, reaching $150.75. The stock had a trading volume of 5,208,202 shares, compared to its average volume of 7,706,832. 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 Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The firm has a 50-day moving average of $146.07 and a 200 day moving average of $153.66. The company has a market cap of $277.83 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 EPS. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. 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%.

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.