Cedrus LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Cedrus LLC increased its holdings in Chevron Co. (NYSE:CVX) by 17.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,699 shares of the oil and gas company’s stock after acquiring an additional 833 shares during the quarter. Cedrus LLC’s holdings in Chevron were worth $839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron in the 3rd quarter worth about $47,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Chevron in the 1st quarter worth about $55,000. Finally, Richardson Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter valued at about $58,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

Shares of CVX opened at $150.75 on Friday. The company has a market cap of $277.83 billion, a PE ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. The business has a fifty day moving average of $146.07 and a 200 day moving average of $153.66. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its earnings results 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 11.06 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. UBS Group upped their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Truist Financial dropped their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, Sanford C. Bernstein downgraded 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 note on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.