von Borstel & Associates Inc. Invests $924,000 in Chevron Co. (NYSE:CVX)

von Borstel & Associates Inc. purchased a new position in Chevron Co. (NYSE:CVX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,276 shares of the oil and gas company’s stock, valued at approximately $924,000. Chevron makes up approximately 0.5% of von Borstel & Associates Inc.’s investment portfolio, making the stock its 16th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Scarborough Advisors LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $98,000. Wellington Management Group LLP lifted its stake in shares of Chevron by 11.5% during the fourth quarter. Wellington Management Group LLP now owns 4,047,616 shares of the oil and gas company’s stock worth $603,742,000 after buying an additional 417,183 shares during the period. Yeomans Consulting Group Inc. purchased a new position in shares of Chevron in the fourth quarter worth about $274,000. Leo Wealth LLC purchased a new stake in shares of Chevron in the 4th quarter valued at $1,085,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Chevron during the 4th quarter worth about $1,121,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. UBS Group increased their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Truist Financial lowered their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Finally, Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.81.

Chevron Price Performance

NYSE:CVX traded down $3.43 during mid-day trading on Tuesday, hitting $148.35. The company’s stock had a trading volume of 4,515,213 shares, compared to its average volume of 7,731,094. The company has a market capitalization of $273.40 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The stock has a fifty day moving average of $145.61 and a 200-day moving average of $153.89.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.08 earnings per share. As a group, equities analysts forecast that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.40%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Chevron 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.