Mitchell & Pahl Private Wealth LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

Mitchell & Pahl Private Wealth LLC grew its position in Chevron Co. (NYSE:CVX) by 10.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,763 shares of the oil and gas company’s stock after buying an additional 1,218 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Chevron were worth $1,879,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Anfield Capital Management LLC lifted its stake in shares of 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 purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC lifted its position in Chevron by 66.7% in 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 during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Chevron during the first quarter worth about $55,000. Richardson Capital Management LLC purchased a new position in Chevron during the first quarter worth about $58,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Chevron during the second quarter valued at about $59,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.9 %

Shares of NYSE:CVX traded up $1.27 during trading hours on Thursday, reaching $150.00. The stock had a trading volume of 1,949,996 shares, compared to its average volume of 7,694,712. The stock has a market capitalization of $276.44 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 2.72 and a beta of 1.09. The firm’s 50 day moving average is $145.82 and its 200-day moving average is $153.78. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last posted its earnings results 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). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $3.08 EPS. Research analysts predict that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on CVX shares. Mizuho decreased 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. Wells Fargo & Company decreased their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Truist Financial dropped their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.81.

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.