Plato Investment Management Ltd Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Plato Investment Management Ltd raised its holdings in Chevron Co. (NYSE:CVX) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,706 shares of the oil and gas company’s stock after purchasing an additional 438 shares during the quarter. Plato Investment Management Ltd’s holdings in Chevron were worth $6,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CVX. Rational Advisors LLC acquired a new stake in Chevron in the third quarter valued at $29,000. Anfield Capital Management LLC increased its holdings 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 valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake in shares of Chevron by 66.7% in the second 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 during the period. Livelsberger Financial Advisory purchased a new stake in Chevron during the third quarter worth about $47,000. Finally, Krane Funds Advisors LLC acquired a new position in Chevron during the third quarter worth about $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $158.69 on Thursday. The firm has a market capitalization of $285.18 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 3.49 and a beta of 1.09. The company has a 50 day moving average price of $148.18 and a 200 day moving average price of $152.61. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the company posted $3.05 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CVX shares. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. 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, Barclays increased their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” 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 MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.93.

About Chevron

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.