Tandem Investment Advisors Inc. Makes New $264,000 Investment in Chevron Co. (NYSE:CVX)

Tandem Investment Advisors Inc. purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,793 shares of the oil and gas company’s stock, valued at approximately $264,000.

Other hedge funds have also recently modified their holdings of the company. Rational Advisors LLC bought a new position in Chevron during the 3rd quarter valued at approximately $29,000. Anfield Capital Management LLC boosted its holdings in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at approximately $47,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Chevron during the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.6 %

Chevron stock opened at $156.73 on Friday. The business has a 50-day simple moving average of $147.43 and a two-hundred day simple moving average of $152.90. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $286.65 billion, a P/E ratio of 17.22, a P/E/G ratio of 3.43 and a beta of 1.09.

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 analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.05 earnings per share. Analysts predict that Chevron Co. will post 10.65 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 dividend on an annualized basis and a yield of 4.16%. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Mizuho lowered their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday. Finally, DZ Bank upgraded 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. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.93.

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.