Capital Investment Counsel Inc Has $1.17 Million Holdings in Chevron Co. (NYSE:CVX)

Capital Investment Counsel Inc lifted its holdings in Chevron Co. (NYSE:CVX) by 4.2% in the 3rd quarter, Holdings Channel reports. The firm owned 7,916 shares of the oil and gas company’s stock after buying an additional 322 shares during the quarter. Capital Investment Counsel Inc’s holdings in Chevron were worth $1,166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CVX. Anfield Capital Management LLC lifted its stake in shares of Chevron by 118.0% in the 2nd 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 during the last quarter. Cyrus J. Lawrence LLC lifted its stake in shares of Chevron by 66.7% in the 2nd 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 during the last quarter. Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter worth $47,000. Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in Chevron in the 1st quarter worth $55,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on CVX shares. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. UBS Group lifted their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company dropped their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Finally, Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Performance

NYSE CVX opened at $150.46 on Thursday. The stock has a market cap of $277.29 billion, a P/E ratio of 13.84, a PEG ratio of 2.73 and a beta of 1.09. The company’s 50-day simple moving average is $146.44 and its 200 day simple moving average is $153.45. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.08 EPS. As a group, research analysts forecast that Chevron Co. will post 10.95 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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