BCGM Wealth Management LLC Grows Position in Chevron Co. (NYSE:CVX)

BCGM Wealth Management LLC raised its stake in Chevron Co. (NYSE:CVX) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,638 shares of the oil and gas company’s stock after acquiring an additional 76 shares during the quarter. BCGM Wealth Management LLC’s holdings in Chevron were worth $241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Marietta Wealth Management LLC lifted its stake in shares of Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after purchasing an additional 3,965 shares during the period. Leo Wealth LLC lifted its position in Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares during the period. RPG Investment Advisory LLC boosted its stake in Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after buying an additional 3,933 shares during the last quarter. Garner Asset Management Corp increased its stake in shares of Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after acquiring an additional 2,530 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of Chevron by 3.2% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock worth $16,930,000 after acquiring an additional 3,561 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX opened at $161.42 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market cap of $290.09 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 3.63 and a beta of 1.09. The company has a fifty day simple moving average of $149.39 and a 200 day simple moving average of $152.62.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 earnings per share. Equities research analysts expect that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. UBS Group upped their price target on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Truist Financial lifted their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

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.