Alta Wealth Advisors LLC Has $492,000 Stock Position in Chevron Co. (NYSE:CVX)

Alta Wealth Advisors LLC raised its holdings in Chevron Co. (NYSE:CVX) by 22.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,344 shares of the oil and gas company’s stock after purchasing an additional 624 shares during the quarter. Alta Wealth Advisors LLC’s holdings in Chevron were worth $492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Anfield Capital Management LLC grew its position in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its stake in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in Chevron during the 3rd quarter worth approximately $47,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron during the 1st quarter worth approximately $55,000. Finally, Richardson Capital Management LLC bought a new position in Chevron in the 1st quarter valued at approximately $58,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

Shares of NYSE:CVX opened at $150.75 on Friday. The business’s 50-day moving average is $146.07 and its 200-day moving average is $153.66. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The company has a market capitalization of $277.83 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last posted its quarterly 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 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%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.08 earnings per share. Equities research analysts predict that Chevron Co. will post 11.06 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.33%. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVX. Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group boosted their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

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.