Chevron Co. (NYSE:CVX) Shares Purchased by First Financial Bankshares Inc

First Financial Bankshares Inc raised its holdings in Chevron Co. (NYSE:CVX) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 618,540 shares of the oil and gas company’s stock after buying an additional 5,653 shares during the period. Chevron makes up about 1.9% of First Financial Bankshares Inc’s holdings, making the stock its 14th largest position. First Financial Bankshares Inc’s holdings in Chevron were worth $91,092,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CVX. Anfield Capital Management LLC raised its stake in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the third quarter worth about $47,000. Krane Funds Advisors LLC acquired a new stake in shares of Chevron during the third quarter worth about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron in the 1st quarter valued at about $55,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Chevron stock opened at $150.81 on Monday. 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 firm’s 50-day simple moving average is $146.59 and its 200 day simple moving average is $153.23. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market capitalization of $277.94 billion, a PE ratio of 13.87, a P/E/G ratio of 3.30 and a beta of 1.09.

Chevron (NYSE:CVX) last announced 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 net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the company earned $3.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVX. Truist Financial cut 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. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays reduced their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Wells Fargo & Company dropped their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.