Chevron Co. (NYSE:CVX) Shares Acquired by Hamel Associates Inc.

Hamel Associates Inc. grew its position in Chevron Co. (NYSE:CVX) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,396 shares of the oil and gas company’s stock after purchasing an additional 1,068 shares during the period. Chevron makes up 2.1% of Hamel Associates Inc.’s holdings, making the stock its 19th largest position. Hamel Associates Inc.’s holdings in Chevron were worth $6,980,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in shares of Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the last quarter. Capital World Investors boosted its position in Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Legal & General Group Plc boosted its position in Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after purchasing an additional 629,644 shares in the last quarter. Capital International Investors boosted its position in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the subject of a number of research analyst reports. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Truist Financial increased their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Trading Down 0.8 %

CVX opened at $155.30 on Wednesday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The business has a fifty day simple moving average of $148.18 and a 200-day simple moving average of $152.61. The firm has a market cap of $279.09 billion, a P/E ratio of 17.07, a P/E/G ratio of 3.50 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $3.05 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.59 earnings per share for the current year.

Chevron Announces Dividend

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 4.20%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.