Chevron Co. (NYSE:CVX) Stock Position Lifted by Carlson Capital Management

Carlson Capital Management lifted its holdings in Chevron Co. (NYSE:CVX) by 94.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,144 shares of the oil and gas company’s stock after purchasing an additional 1,525 shares during the quarter. Carlson Capital Management’s holdings in Chevron were worth $463,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Rational Advisors LLC bought a new position in Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in Chevron during the third quarter valued at about $30,000. Anfield Capital Management LLC boosted its stake in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its stake 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 valued at $39,000 after buying an additional 100 shares in the last quarter. Finally, Krane Funds Advisors LLC bought a new position in Chevron during the third quarter valued at about $47,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CVX shares. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. UBS Group upped their target price on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Truist Financial upped their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $175.56.

Chevron Stock Performance

NYSE:CVX traded up $2.06 on Tuesday, hitting $162.42. The company’s stock had a trading volume of 2,317,176 shares, compared to its average volume of 7,638,754. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a fifty day moving average of $151.94 and a two-hundred day moving average of $152.51. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $291.88 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09.

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 the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts predict that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

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.