Colonial River Investments LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

Colonial River Investments LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,864 shares of the oil and gas company’s stock after acquiring an additional 124 shares during the quarter. Colonial River Investments LLC’s holdings in Chevron were worth $1,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. purchased a new stake in Chevron during the 1st quarter worth approximately $566,000. Duality Advisers LP purchased a new stake in shares of Chevron during the first quarter worth approximately $1,029,000. Empowered Funds LLC raised its stake in Chevron by 5.4% in the 1st quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock valued at $67,670,000 after purchasing an additional 22,047 shares during the last quarter. Hilltop National Bank purchased a new position in Chevron in the 1st quarter valued at $1,200,000. Finally, Brooklyn Investment Group boosted its stake in Chevron by 35.5% during the 1st quarter. Brooklyn Investment Group now owns 7,053 shares of the oil and gas company’s stock worth $1,122,000 after purchasing an additional 1,846 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX opened at $156.93 on Friday. The stock has a fifty day simple moving average of $147.80 and a 200-day simple moving average of $152.89. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market cap of $287.01 billion, a PE ratio of 17.25, a P/E/G ratio of 3.51 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last posted 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. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the company posted $3.05 earnings per share. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 10.59 earnings per share 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 annualized dividend and a yield of 4.15%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CVX shares. Mizuho decreased their price target 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. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Finally, Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

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.