Evergreen Wealth Management LLC purchased a new stake in Chevron Co. (NYSE:CVX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,270 shares of the oil and gas company's stock, valued at approximately $1,660,000.
A number of other large investors have also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in shares of Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock valued at $2,676,957,000 after purchasing an additional 501,969 shares during the period. Capital World Investors raised its stake in Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock worth $2,525,380,000 after buying an additional 495,879 shares in the last quarter. Legal & General Group Plc raised its stake in Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company's stock worth $2,122,772,000 after buying an additional 629,644 shares in the last quarter. Capital International Investors raised its stake in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company's stock worth $2,116,600,000 after buying an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Chevron by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company's stock worth $2,036,846,000 after buying an additional 126,889 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.
A number of equities analysts recently commented on CVX shares. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a "buy" rating and a $168.00 price target on the stock. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a research report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on Chevron from $196.00 to $169.00 and set an "overweight" rating on the stock in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $174.93.
Get Our Latest Stock Analysis on CVX
Shares of CVX traded down $0.38 during mid-day trading on Friday, hitting $161.42. 9,022,753 shares of the company were exchanged, compared to its average volume of 7,677,757. Chevron Co. has a 1-year low of $135.37 and a 1-year 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 company has a 50 day moving average of $149.39 and a 200-day moving average of $152.68. The stock has a market cap of $290.09 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09.
Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.05 EPS. Analysts expect that Chevron Co. will post 10.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron's dividend payout ratio is currently 71.65%.
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.
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