38,432 Shares in Chevron Co. (NYSE:CVX) Purchased by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC bought a new position in Chevron Co. (NYSE:CVX) during the third quarter, Holdings Channel.com reports. The institutional investor bought 38,432 shares of the oil and gas company’s stock, valued at approximately $5,660,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Rational Advisors LLC purchased a new stake in Chevron during the third quarter valued at about $29,000. Anfield Capital Management LLC increased its position in shares of Chevron by 118.0% during 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 raised its holdings in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron in the 3rd quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory purchased a new stake in Chevron in the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CVX shares. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Wells Fargo & Company decreased 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. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Down 0.5 %

Chevron stock traded down $0.72 during trading hours on Friday, hitting $156.05. 680,415 shares of the stock traded hands, compared to its average volume of 7,639,195. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The firm’s 50-day moving average price is $147.43 and its two-hundred day moving average price is $152.90. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market cap of $285.40 billion, a PE ratio of 17.22, a PEG ratio of 3.53 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 earnings per share. On average, research analysts forecast that Chevron Co. will post 10.59 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

About Chevron

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.