Traynor Capital Management Inc. Acquires 894 Shares of Chevron Co. (NYSE:CVX)

Traynor Capital Management Inc. lifted its holdings in Chevron Co. (NYSE:CVX) by 5.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,508 shares of the oil and gas company’s stock after buying an additional 894 shares during the quarter. Traynor Capital Management Inc.’s holdings in Chevron were worth $2,578,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CVX. Anfield Capital Management LLC raised its holdings 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 purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its holdings in Chevron by 66.7% during the 2nd 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. Krane Funds Advisors LLC bought a new stake in Chevron during the 3rd quarter worth about $47,000. Livelsberger Financial Advisory bought a new stake in Chevron during the 3rd quarter worth about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in Chevron during the 1st quarter worth about $55,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 0.2 %

NYSE:CVX opened at $150.55 on Tuesday. 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. The business has a 50 day moving average price of $146.66 and a two-hundred day moving average price of $153.15. The company has a market cap of $275.34 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 3.29 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 firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the business posted $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Announces Dividend

The company 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 of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. Chevron’s dividend payout ratio is presently 64.55%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Barclays decreased their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.