Chevron Co. (NYSE:CVX) Shares Purchased by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC grew its stake in Chevron Co. (NYSE:CVX) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,240 shares of the oil and gas company’s stock after acquiring an additional 336 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Chevron were worth $1,655,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVX. American Capital Advisory LLC boosted its holdings in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter worth approximately $40,000. Finally, Vima LLC acquired a new position in Chevron during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

NYSE CVX traded up $0.80 on Friday, hitting $151.42. 5,051,314 shares of the company’s stock were exchanged, compared to its average volume of 7,765,251. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $145.46 and a 200-day moving average of $153.96. The stock has a market cap of $276.94 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 2.70 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its 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). The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.08 earnings per share. Analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 64.55%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday. Barclays cut their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $177.59.

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.