Thurston Springer Miller Herd & Titak Inc. Increases Holdings in Chevron Co. (NYSE:CVX)

Thurston Springer Miller Herd & Titak Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,584 shares of the oil and gas company’s stock after buying an additional 682 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Chevron were worth $1,706,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CVX. Scarborough Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $98,000. Creekmur Asset Management LLC bought a new stake in Chevron during the 4th quarter valued at approximately $116,000. Vima LLC purchased a new position in shares of Chevron during the 4th quarter worth approximately $44,000. Northwest Bank & Trust Co bought a new position in shares of Chevron in the 4th quarter worth approximately $670,000. Finally, Fortis Group Advisors LLC lifted its stake in shares of Chevron by 22.2% in the 4th quarter. Fortis Group Advisors LLC now owns 6,626 shares of the oil and gas company’s stock valued at $1,047,000 after purchasing an additional 1,205 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX opened at $151.42 on Monday. The company’s 50-day simple moving average is $145.46 and its two-hundred day simple moving average is $153.93. 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 $279.06 billion, a P/E ratio of 13.93, a P/E/G ratio of 2.72 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $3.08 EPS. As a group, analysts predict that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.31%. Chevron’s payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CVX shares. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Barclays cut 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. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $176.81.

Chevron Company 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.