TCTC Holdings LLC Has $7.22 Million Position in Chevron Co. (NYSE:CVX)

TCTC Holdings LLC boosted its stake in Chevron Co. (NYSE:CVX) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,990 shares of the oil and gas company’s stock after purchasing an additional 2,190 shares during the quarter. TCTC Holdings LLC’s holdings in Chevron were worth $7,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rational Advisors LLC acquired a new position in Chevron during the 3rd quarter worth approximately $29,000. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% during the second 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 period. Cyrus J. Lawrence LLC lifted its holdings 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 worth $39,000 after purchasing an additional 100 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in Chevron in the 3rd quarter valued at $47,000. Finally, Krane Funds Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at $47,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVX. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Truist Financial raised their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. UBS Group boosted their price objective on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada increased their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Performance

NYSE CVX opened at $156.93 on Friday. The company has a market capitalization of $287.01 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 3.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a 50-day simple moving average of $147.80 and a 200 day simple moving average of $152.89.

Chevron (NYSE:CVX) last issued its quarterly 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 net margin of 8.44% and a return on equity of 13.07%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the business posted $3.05 EPS. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts predict that Chevron Co. will post 10.59 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. Chevron’s dividend payout ratio is presently 71.65%.

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.