Chevron Co. (NYSE:CVX) Stock Position Increased by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,612 shares of the oil and gas company’s stock after buying an additional 3,458 shares during the quarter. Chevron accounts for approximately 1.4% of Culbertson A N & Co. Inc.’s investment portfolio, making the stock its 23rd largest position. Culbertson A N & Co. Inc.’s holdings in Chevron were worth $8,484,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Anfield Capital Management LLC grew its stake 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 boosted its holdings in Chevron by 66.7% during the second 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. Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron in the first quarter worth approximately $55,000. Richardson Capital Management LLC bought a new position in shares of Chevron in the first quarter valued at $58,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Chevron during the 2nd quarter worth $59,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.6 %

Shares of CVX opened at $148.69 on Thursday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The firm has a market capitalization of $274.03 billion, a P/E ratio of 13.68, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a 50-day simple moving average of $145.82 and a 200-day simple moving average of $153.78. 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 (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. 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. UBS Group raised their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays dropped their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Six equities research 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, Chevron has a consensus rating of “Moderate Buy” and an average price target of $176.81.

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.