Archer Investment Corp Has $1.69 Million Stake in Chevron Co. (NYSE:CVX)

Archer Investment Corp lifted its stake in shares of Chevron Co. (NYSE:CVX) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,449 shares of the oil and gas company’s stock after buying an additional 369 shares during the quarter. Archer Investment Corp’s holdings in Chevron were worth $1,686,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Marietta Wealth Management LLC boosted its holdings in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares during the last quarter. Leo Wealth LLC raised its stake in Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after acquiring an additional 1,354 shares during the period. RPG Investment Advisory LLC raised its stake in Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after acquiring an additional 3,933 shares during the period. Garner Asset Management Corp increased its position in shares of Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after buying an additional 2,530 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. increased its position in shares of Chevron by 3.2% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock valued at $16,930,000 after buying an additional 3,561 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.1 %

NYSE:CVX traded up $0.24 during trading hours on Friday, reaching $162.04. The company’s stock had a trading volume of 1,108,043 shares, compared to its average volume of 7,642,176. The company has a market capitalization of $291.20 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a 50 day moving average price of $148.93 and a two-hundred day moving average price of $152.71.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the firm earned $3.05 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. UBS Group boosted their price objective on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Truist Financial upped their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.93.

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.