Concurrent Investment Advisors LLC Buys 11,151 Shares of Chevron Co. (NYSE:CVX)

Concurrent Investment Advisors LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 13.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 91,859 shares of the oil and gas company’s stock after buying an additional 11,151 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Chevron were worth $13,528,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CVX. China Universal Asset Management Co. Ltd. bought a new stake in shares of Chevron during the 1st quarter valued at about $566,000. Stack Financial Management Inc boosted its holdings in Chevron by 31.2% during the first quarter. Stack Financial Management Inc now owns 283,936 shares of the oil and gas company’s stock worth $44,788,000 after purchasing an additional 67,550 shares during the last quarter. Graypoint LLC grew its position in Chevron by 11.0% in the 1st quarter. Graypoint LLC now owns 29,007 shares of the oil and gas company’s stock worth $4,576,000 after purchasing an additional 2,880 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Chevron by 5.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 249,039 shares of the oil and gas company’s stock worth $39,283,000 after buying an additional 12,126 shares during the last quarter. Finally, Wright Investors Service Inc. grew its holdings in shares of Chevron by 0.5% in the first quarter. Wright Investors Service Inc. now owns 22,695 shares of the oil and gas company’s stock valued at $3,580,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 2.4 %

Shares of CVX traded up $3.73 during mid-day trading on Wednesday, hitting $157.14. 1,819,984 shares of the company’s stock traded hands, compared to its average volume of 7,621,316. The business’s 50-day moving average price is $147.20 and its 200-day moving average price is $152.86. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market capitalization of $287.40 billion, a P/E ratio of 16.86, a PEG ratio of 3.43 and a beta of 1.09. 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 announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the company earned $3.05 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 10.65 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVX. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday. UBS Group lifted their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Truist Financial raised their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.93.

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.