Infrastructure Capital Advisors LLC Has $1.55 Million Stock Position in Chevron Co. (NYSE:CVX)

Infrastructure Capital Advisors LLC reduced its position in Chevron Co. (NYSE:CVX) by 1.2% during the third quarter, HoldingsChannel reports. The firm owned 10,546 shares of the oil and gas company’s stock after selling 127 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Chevron were worth $1,553,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Peterson Wealth Management boosted its stake in shares of Chevron by 1.8% in the 3rd quarter. Peterson Wealth Management now owns 8,362 shares of the oil and gas company’s stock valued at $1,232,000 after purchasing an additional 149 shares during the last quarter. Vinva Investment Management Ltd boosted its stake in shares of Chevron by 107.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 80,553 shares of the oil and gas company’s stock valued at $11,720,000 after purchasing an additional 41,685 shares during the last quarter. Elite Wealth Management Inc. boosted its stake in shares of Chevron by 14.8% in the 3rd quarter. Elite Wealth Management Inc. now owns 5,437 shares of the oil and gas company’s stock valued at $801,000 after purchasing an additional 700 shares during the last quarter. Financial Counselors Inc. boosted its stake in shares of Chevron by 0.4% in the 3rd quarter. Financial Counselors Inc. now owns 279,862 shares of the oil and gas company’s stock valued at $41,215,000 after purchasing an additional 1,057 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Chevron by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after purchasing an additional 138,496 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock opened at $162.11 on Friday. The firm has a 50-day moving average of $153.03 and a 200-day moving average of $152.62. The company has a market cap of $291.33 billion, a P/E ratio of 17.81, a P/E/G ratio of 3.58 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last announced 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 company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. 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 company posted $3.05 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. Chevron’s dividend payout ratio is currently 71.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada increased their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Truist Financial increased their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $175.56.

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.