DMC Group LLC Boosts Stake in Chevron Co. (NYSE:CVX)

DMC Group LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,116 shares of the oil and gas company’s stock after buying an additional 174 shares during the period. DMC Group LLC’s holdings in Chevron were worth $1,048,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Eagle Capital Management LLC boosted its holdings in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the last quarter. Lane & Associates LLC bought a new position in Chevron during the first quarter valued at approximately $345,000. KCM Investment Advisors LLC boosted its holdings in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after purchasing an additional 8,168 shares during the last quarter. Hosking Partners LLP purchased a new stake in Chevron in the first quarter worth approximately $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 worth $3,128,000 after purchasing an additional 2,530 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.3 %

CVX opened at $150.75 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two 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 stock has a market cap of $277.83 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. The firm’s fifty day moving average is $146.07 and its 200 day moving average is $153.66.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the firm earned $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Co. will post 11.06 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. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. UBS Group increased their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Barclays dropped their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.07.

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.