Net Worth Advisory Group Invests $841,000 in Chevron Co. (NYSE:CVX)

Net Worth Advisory Group bought a new position in shares of Chevron Co. (NYSE:CVX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,709 shares of the oil and gas company’s stock, valued at approximately $841,000.

Several other institutional investors have also bought and sold shares of the stock. Precedent Wealth Partners LLC grew its stake in Chevron by 9.5% during the third quarter. Precedent Wealth Partners LLC now owns 10,872 shares of the oil and gas company’s stock worth $1,601,000 after buying an additional 945 shares during the last quarter. Stratos Investment Management LLC boosted its stake in Chevron by 15.4% in the third quarter. Stratos Investment Management LLC now owns 33,337 shares of the oil and gas company’s stock worth $4,910,000 after purchasing an additional 4,443 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Chevron by 0.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 70,768 shares of the oil and gas company’s stock worth $10,422,000 after buying an additional 261 shares in the last quarter. OmniStar Financial Group Inc. acquired a new stake in Chevron in the 3rd quarter valued at about $694,000. Finally, Aspiriant LLC raised its stake in shares of Chevron by 6.6% in the third quarter. Aspiriant LLC now owns 16,487 shares of the oil and gas company’s stock worth $2,428,000 after acquiring an additional 1,026 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CVX shares. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

Shares of CVX stock opened at $150.74 on Friday. The company has a market capitalization of $277.81 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week 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 company’s 50 day moving average price is $146.07 and its two-hundred day moving average price is $153.71.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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 firm 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 posted $3.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s payout ratio is 59.98%.

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.