7,207 Shares in Chevron Co. (NYSE:CVX) Acquired by Global Assets Advisory LLC

Global Assets Advisory LLC acquired a new position in Chevron Co. (NYSE:CVX) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,207 shares of the oil and gas company’s stock, valued at approximately $1,079,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Romano Brothers AND Company boosted its stake in Chevron by 7.5% during the 3rd quarter. Romano Brothers AND Company now owns 14,039 shares of the oil and gas company’s stock valued at $2,068,000 after purchasing an additional 985 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in Chevron by 12.0% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 3,426 shares of the oil and gas company’s stock valued at $505,000 after purchasing an additional 366 shares in the last quarter. Brighton Jones LLC boosted its stake in Chevron by 18.8% during the 3rd quarter. Brighton Jones LLC now owns 29,312 shares of the oil and gas company’s stock valued at $4,317,000 after purchasing an additional 4,640 shares in the last quarter. Tanager Wealth Management LLP boosted its stake in Chevron by 5.0% during the 3rd quarter. Tanager Wealth Management LLP now owns 5,471 shares of the oil and gas company’s stock valued at $806,000 after purchasing an additional 262 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVX. Barclays decreased their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. UBS Group increased their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Five equities research 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 price target of $173.07.

Chevron Stock Down 0.3 %

NYSE CVX opened at $150.46 on Thursday. 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 has a 50-day simple moving average of $146.44 and a 200 day simple moving average of $153.45. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market cap of $277.29 billion, a PE ratio of 13.84, a PEG ratio of 2.73 and a beta of 1.09.

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 the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. 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 previous year, the business posted $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

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