Capital Performance Advisors LLP Takes Position in Chevron Co. (NYSE:CVX)

Capital Performance Advisors LLP acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 841 shares of the oil and gas company’s stock, valued at approximately $124,000.

A number of other hedge funds also recently made changes to their positions in the company. Physicians Financial Services Inc. raised its stake in shares of Chevron by 0.4% during the third quarter. Physicians Financial Services Inc. now owns 38,266 shares of the oil and gas company’s stock valued at $5,635,000 after purchasing an additional 165 shares during the period. Philip James Wealth Mangement LLC acquired a new stake in shares of Chevron during the third quarter worth approximately $5,660,000. Comprehensive Financial Consultants Institutional Inc. grew its position in shares of Chevron by 1.8% during the third quarter. Comprehensive Financial Consultants Institutional Inc. now owns 10,716 shares of the oil and gas company’s stock worth $1,578,000 after buying an additional 185 shares in the last quarter. Summit Global Investments grew its position in shares of Chevron by 26.1% during the third quarter. Summit Global Investments now owns 5,784 shares of the oil and gas company’s stock worth $852,000 after buying an additional 1,197 shares in the last quarter. Finally, Smith Thornton Advisors LLC grew its position in shares of Chevron by 2.2% during the third quarter. Smith Thornton Advisors LLC now owns 3,936 shares of the oil and gas company’s stock worth $580,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CVX shares. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group lifted their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Scotiabank dropped their target price 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. Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Stock Up 0.1 %

CVX stock opened at $156.95 on Friday. 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 Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s 50-day simple moving average is $147.80 and its 200 day simple moving average is $152.89. The stock has a market cap of $287.05 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 3.53 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $3.05 EPS. As a group, sell-side analysts predict that Chevron Co. will post 10.59 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. Chevron’s dividend payout ratio is currently 71.65%.

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.