Chevron Co. (NYSE:CVX) Shares Bought by New Century Financial Group LLC

New Century Financial Group LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 374.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,451 shares of the oil and gas company’s stock after purchasing an additional 20,873 shares during the period. Chevron accounts for about 1.4% of New Century Financial Group LLC’s portfolio, making the stock its 11th largest holding. New Century Financial Group LLC’s holdings in Chevron were worth $3,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Anfield Capital Management LLC raised its stake in 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 raised its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the period. Krane Funds Advisors LLC acquired a new position in Chevron in the third quarter valued at approximately $47,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Chevron in the first quarter worth approximately $55,000. Finally, Richardson Capital Management LLC acquired a new stake in Chevron during the first quarter worth $58,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVX. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday. They set a “buy” rating and a $168.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Truist Financial dropped their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Trading Down 0.3 %

NYSE:CVX opened at $150.75 on Friday. 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 1 year low of $135.37 and a 1 year high of $170.17. The stock has a market cap of $277.83 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. The stock has a 50-day simple moving average of $146.07 and a 200-day simple moving average of $153.66.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the company earned $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s dividend payout ratio is currently 59.98%.

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.