Wealth Quarterback LLC Has $1.29 Million Stake in Chevron Co. (NYSE:CVX)

Wealth Quarterback LLC raised its position in Chevron Co. (NYSE:CVX) by 8.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,785 shares of the oil and gas company’s stock after purchasing an additional 698 shares during the quarter. Wealth Quarterback LLC’s holdings in Chevron were worth $1,294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rational Advisors LLC bought a new position in shares of Chevron during the third quarter valued at $29,000. Anfield Capital Management LLC increased its holdings in Chevron by 118.0% in the second 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 period. Cyrus J. Lawrence LLC increased its holdings in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Livelsberger Financial Advisory bought a new position in Chevron during the 3rd quarter worth $47,000. Finally, Krane Funds Advisors LLC acquired a new position in Chevron during the 3rd quarter worth about $47,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.1 %

Chevron stock opened at $156.95 on Friday. The firm has a market capitalization of $287.05 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 3.53 and a beta of 1.09. The firm has a 50 day simple moving average of $147.80 and a 200 day simple moving average of $152.89. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced 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 during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.05 earnings per share. On average, analysts predict that Chevron Co. will post 10.59 earnings per share for the current year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. UBS Group lifted their price target on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.93.

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.