Chevron Co. (NYSE:CVX) Stock Holdings Lifted by Good Life Advisors LLC

Good Life Advisors LLC lifted its position in Chevron Co. (NYSE:CVX) by 126.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,798 shares of the oil and gas company’s stock after acquiring an additional 17,732 shares during the quarter. Good Life Advisors LLC’s holdings in Chevron were worth $4,682,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. ZWJ Investment Counsel Inc. boosted its position in Chevron by 1.9% during the third quarter. ZWJ Investment Counsel Inc. now owns 229,370 shares of the oil and gas company’s stock valued at $33,779,000 after purchasing an additional 4,209 shares during the last quarter. Horizon Wealth Management LLC raised its stake 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 worth $6,293,000 after purchasing an additional 40,189 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of Chevron by 4.5% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 23,739 shares of the oil and gas company’s stock valued at $3,496,000 after buying an additional 1,012 shares during the last quarter. Culbertson A N & Co. Inc. grew its stake in shares of Chevron by 6.4% in the 3rd quarter. Culbertson A N & Co. Inc. now owns 57,612 shares of the oil and gas company’s stock valued at $8,484,000 after buying an additional 3,458 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC increased its holdings in Chevron by 12.3% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 12,922 shares of the oil and gas company’s stock worth $1,903,000 after buying an additional 1,413 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVX. Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Bank of America started coverage on shares of Chevron in a report on Thursday. They issued a “buy” rating and a $168.00 price objective for the company. Barclays cut their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, UBS Group raised their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.81.

Chevron Price Performance

Shares of CVX stock traded up $1.34 during trading hours on Thursday, hitting $150.07. The company had a trading volume of 1,626,712 shares, compared to its average volume of 7,694,035. Chevron Co. has a 12 month low of $135.37 and a 12 month 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. The firm’s fifty day moving average is $145.82 and its 200 day moving average is $153.78. The firm has a market capitalization of $276.57 billion, a price-to-earnings ratio of 13.76, a PEG 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Chevron 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.