Stratos Investment Management LLC Boosts Holdings in Chevron Co. (NYSE:CVX)

Stratos Investment Management LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 15.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,337 shares of the oil and gas company’s stock after acquiring an additional 4,443 shares during the period. Stratos Investment Management LLC’s holdings in Chevron were worth $4,910,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Capital Management LLC lifted its stake in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the last quarter. Lane & Associates LLC bought a new stake in shares of Chevron during the 1st quarter worth approximately $345,000. KCM Investment Advisors LLC lifted its stake in shares of Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares during the last quarter. Hosking Partners LLP purchased a new position in Chevron during the 1st quarter valued at $4,924,000. Finally, Garner Asset Management Corp grew its position in Chevron by 14.5% in the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after acquiring an additional 2,530 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CVX shares. Truist Financial lowered their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Bank of America began coverage on shares of Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 target price on the stock. Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Down 0.3 %

NYSE:CVX opened at $150.74 on Friday. 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 stock has a market capitalization of $277.81 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. The company’s 50-day simple moving average is $146.07 and its 200-day simple moving average is $153.71. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company posted $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date 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 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.