King Wealth Management Group Boosts Holdings in Chevron Co. (NYSE:CVX)

King Wealth Management Group grew its holdings in Chevron Co. (NYSE:CVX) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,080 shares of the oil and gas company’s stock after acquiring an additional 514 shares during the quarter. King Wealth Management Group’s holdings in Chevron were worth $1,632,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rational Advisors LLC purchased a new position in Chevron during the third quarter worth approximately $29,000. Anfield Capital Management LLC grew its stake in Chevron by 118.0% in the 2nd 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 during the period. Cyrus J. Lawrence LLC increased 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 acquiring an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in Chevron during the third quarter worth $47,000. Finally, Livelsberger Financial Advisory purchased a new position in Chevron during the third quarter valued at $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $161.77 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business has a 50-day moving average of $148.51 and a 200-day moving average of $152.65. The company has a market capitalization of $290.72 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 3.57 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for 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%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.05 EPS. On average, equities analysts anticipate that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.03%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analyst Ratings Changes

CVX has been the subject of several research reports. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Truist Financial boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Bank of America initiated 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, Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

About Chevron

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.