OneAscent Wealth Management LLC Takes $973,000 Position in Chevron Co. (NYSE:CVX)

OneAscent Wealth Management LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the third quarter, HoldingsChannel reports. The fund acquired 6,606 shares of the oil and gas company’s stock, valued at approximately $973,000. Chevron accounts for approximately 0.4% of OneAscent Wealth Management LLC’s holdings, making the stock its 27th largest holding.

Other institutional investors also recently bought and sold shares of the company. Nixon Peabody Trust Co. lifted its holdings in shares of Chevron by 11.4% during the third quarter. Nixon Peabody Trust Co. now owns 72,522 shares of the oil and gas company’s stock worth $10,680,000 after purchasing an additional 7,432 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in Chevron during the 3rd quarter worth approximately $91,000. Tidemark LLC lifted its stake in Chevron by 156.6% during the 3rd quarter. Tidemark LLC now owns 4,690 shares of the oil and gas company’s stock valued at $691,000 after acquiring an additional 2,862 shares during the period. Mendel Capital Management LLC boosted its holdings in shares of Chevron by 1.5% in the 3rd quarter. Mendel Capital Management LLC now owns 5,331 shares of the oil and gas company’s stock valued at $785,000 after acquiring an additional 81 shares during the last quarter. Finally, Holistic Financial Partners increased its stake in shares of Chevron by 3.6% in the third quarter. Holistic Financial Partners now owns 3,061 shares of the oil and gas company’s stock worth $451,000 after acquiring an additional 107 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. UBS Group boosted their price target on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Finally, Royal Bank of Canada lifted 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Stock Performance

Shares of Chevron stock traded down $1.79 on Monday, reaching $159.63. 666,713 shares of the stock were exchanged, compared to its average volume of 7,646,388. The business has a fifty day moving average price of $149.39 and a two-hundred day moving average price of $152.57. The firm has a market capitalization of $286.87 billion, a PE ratio of 17.74, a PEG ratio of 3.63 and a beta of 1.09. 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 Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 4.08%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) 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.