Glass Wealth Management Co LLC Purchases 1,372 Shares of Chevron Co. (NYSE:CVX)

Glass Wealth Management Co LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,929 shares of the oil and gas company’s stock after acquiring an additional 1,372 shares during the period. Chevron makes up 2.0% of Glass Wealth Management Co LLC’s portfolio, making the stock its 18th biggest holding. Glass Wealth Management Co LLC’s holdings in Chevron were worth $3,671,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Concord Asset Management LLC VA increased its position in Chevron by 8.7% during the third quarter. Concord Asset Management LLC VA now owns 23,279 shares of the oil and gas company’s stock worth $3,428,000 after acquiring an additional 1,871 shares during the period. Peterson Financial Group Inc. acquired a new position in Chevron in the third quarter worth about $143,000. Mechanics Financial Corp lifted its position in shares of Chevron by 12.0% during the 3rd quarter. Mechanics Financial Corp now owns 12,419 shares of the oil and gas company’s stock worth $1,829,000 after buying an additional 1,335 shares during the period. Atlanta Consulting Group Advisors LLC lifted its holdings in shares of Chevron by 28.2% during the third quarter. Atlanta Consulting Group Advisors LLC now owns 26,307 shares of the oil and gas company’s stock valued at $3,874,000 after acquiring an additional 5,788 shares during the period. Finally, GoalVest Advisory LLC boosted its position in Chevron by 7.0% in the third quarter. GoalVest Advisory LLC now owns 7,172 shares of the oil and gas company’s stock valued at $1,056,000 after buying an additional 467 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVX shares. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Scotiabank lowered their target price 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. Truist Financial upped their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. UBS Group upped their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. 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 company currently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Price Performance

Shares of CVX opened at $161.42 on Monday. The company 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’s fifty day simple moving average is $149.39 and its 200 day simple moving average is $152.57. 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 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.05 EPS. On average, research analysts forecast that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s payout ratio is currently 71.65%.

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.