Prio Wealth Limited Partnership Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Prio Wealth Limited Partnership grew its position in Chevron Co. (NYSE:CVX) by 2.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 25,521 shares of the oil and gas company’s stock after purchasing an additional 588 shares during the period. Prio Wealth Limited Partnership’s holdings in Chevron were worth $3,758,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Pacifica Partners Inc. raised 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 buying an additional 63 shares in the last quarter. Private Wealth Management Group LLC raised 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 buying an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC raised 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 buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised 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 buying an additional 64 shares in the last quarter. Finally, Mayfair Advisory Group LLC raised 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 buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.6 %

CVX traded up $0.84 during mid-day trading on Monday, reaching $151.59. The stock had a trading volume of 1,257,523 shares, compared to its average volume of 7,675,072. The stock has a market capitalization of $279.38 billion, a P/E ratio of 13.94, a P/E/G ratio of 2.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm’s fifty day simple moving average is $146.07 and its two-hundred day simple moving average is $153.62. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company 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 business earned $3.08 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 11.06 EPS for the current year.

Chevron Dividend Announcement

The business 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. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.30%. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

A number of research firms recently commented on CVX. Barclays decreased their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Bank of America began coverage on Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 price target on the stock. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Truist Financial decreased their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.