Romano Brothers AND Company Buys 985 Shares of Chevron Co. (NYSE:CVX)

Romano Brothers AND Company raised its stake in shares of Chevron Co. (NYSE:CVX) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,039 shares of the oil and gas company’s stock after buying an additional 985 shares during the quarter. Romano Brothers AND Company’s holdings in Chevron were worth $2,068,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Patrick M Sweeney & Associates Inc. raised its position in shares of Chevron by 12.0% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 3,426 shares of the oil and gas company’s stock worth $505,000 after purchasing an additional 366 shares during the last quarter. Brighton Jones LLC raised its holdings in Chevron by 18.8% in the third quarter. Brighton Jones LLC now owns 29,312 shares of the oil and gas company’s stock worth $4,317,000 after buying an additional 4,640 shares during the last quarter. Tanager Wealth Management LLP lifted its stake in shares of Chevron by 5.0% in the third quarter. Tanager Wealth Management LLP now owns 5,471 shares of the oil and gas company’s stock worth $806,000 after buying an additional 262 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Chevron by 19,404.1% during the third 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 buying an additional 4,876,260 shares during the last quarter. Finally, Capital Investment Counsel Inc increased its position in shares of Chevron by 4.2% during the third quarter. Capital Investment Counsel Inc now owns 7,916 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 322 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.3 %

NYSE CVX opened at $150.46 on Thursday. Chevron Co. has a 52 week low of $135.37 and a 52 week 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. The company has a market capitalization of $277.29 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. The stock’s 50-day moving average price is $146.44 and its 200-day moving average price is $153.45.

Chevron (NYSE:CVX) last released its earnings results 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). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.08 EPS. On average, equities research analysts predict that Chevron Co. will post 10.95 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 given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Finally, 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 research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Company 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.