Chevron Co. (NYSE:CVX) Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its holdings in Chevron Co. (NYSE:CVX) by 0.3% in the third quarter, Holdings Channel reports. The fund owned 183,729 shares of the oil and gas company’s stock after buying an additional 529 shares during the period. Mediolanum International Funds Ltd’s holdings in Chevron were worth $26,686,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CVX. Montz Harcus Wealth Management LLC increased its stake in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after buying an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC increased its position in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares during the last quarter. Mayfair Advisory Group LLC lifted its stake in shares of Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after acquiring an additional 65 shares in the last quarter. Penbrook Management LLC boosted its holdings in Chevron by 3.9% in the first quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $273,000 after purchasing an additional 65 shares during the last quarter. Finally, Verum Partners LLC grew its stake in Chevron by 3.0% during the 1st quarter. Verum Partners LLC now owns 2,236 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 65 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $150.82 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a fifty day moving average price of $146.59 and a 200 day moving average price of $153.36. The company has a market cap of $277.96 billion, a P/E ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.08 EPS. On average, research analysts forecast that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVX. Truist Financial cut their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company decreased their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.