Richardson Financial Services Inc. Has $383,000 Stake in Chevron Co. (NYSE:CVX)

Richardson Financial Services Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,456 shares of the oil and gas company’s stock after acquiring an additional 75 shares during the quarter. Richardson Financial Services Inc.’s holdings in Chevron were worth $383,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CVX. Anfield Capital Management LLC boosted its holdings in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its position in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Chevron during the third quarter worth approximately $47,000. Livelsberger Financial Advisory acquired a new position in shares of Chevron in the third quarter valued at approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Chevron during the first quarter worth approximately $55,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $150.81 on Monday. The firm’s fifty day moving average price is $146.59 and its two-hundred day moving average price is $153.23. The stock has a market cap of $277.94 billion, a PE ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 EPS. On average, equities analysts expect that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVX. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, UBS Group lifted their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

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.