Inlet Private Wealth LLC Purchases 1,400 Shares of Chevron Co. (NYSE:CVX)

Inlet Private Wealth LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 10.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,148 shares of the oil and gas company’s stock after purchasing an additional 1,400 shares during the period. Inlet Private Wealth LLC’s holdings in Chevron were worth $2,231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC raised its stake in shares of Chevron by 0.7% in the third quarter. Global Retirement Partners LLC now owns 56,630 shares of the oil and gas company’s stock worth $8,340,000 after purchasing an additional 405 shares during the last quarter. Mitchell & Pahl Private Wealth LLC increased its holdings in Chevron by 10.6% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 12,763 shares of the oil and gas company’s stock worth $1,879,000 after buying an additional 1,218 shares in the last quarter. Good Life Advisors LLC raised its position in Chevron by 126.1% in the 3rd quarter. Good Life Advisors LLC now owns 31,798 shares of the oil and gas company’s stock worth $4,682,000 after buying an additional 17,732 shares during the last quarter. ZWJ Investment Counsel Inc. lifted its stake in Chevron by 1.9% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 229,370 shares of the oil and gas company’s stock valued at $33,779,000 after acquiring an additional 4,209 shares during the period. Finally, Horizon Wealth Management LLC boosted its holdings in shares of Chevron by 1,580.4% during the 3rd quarter. Horizon Wealth Management LLC now owns 42,732 shares of the oil and gas company’s stock valued at $6,293,000 after acquiring an additional 40,189 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock traded up $1.09 on Thursday, hitting $149.82. 3,047,414 shares of the company traded hands, compared to its average volume of 7,701,309. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The business has a 50-day simple moving average of $145.82 and a 200 day simple moving average of $153.78. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The stock has a market capitalization of $276.11 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the company earned $3.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.35%. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Finally, UBS Group upped their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.81.

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.