Gilliland Jeter Wealth Management LLC Boosts Stake in Chevron Co. (NYSE:CVX)

Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,087 shares of the oil and gas company’s stock after acquiring an additional 746 shares during the quarter. Chevron accounts for about 1.2% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position. Gilliland Jeter Wealth Management LLC’s holdings in Chevron were worth $3,842,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Eagle Capital Management LLC grew its holdings in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares in the last quarter. Lane & Associates LLC bought a new position in shares of Chevron during the first quarter worth about $345,000. KCM Investment Advisors LLC grew its stake in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Hosking Partners LLP acquired a new position in Chevron in the first quarter worth about $4,924,000. Finally, Garner Asset Management Corp increased its holdings in Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after buying an additional 2,530 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVX shares. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Wells Fargo & Company decreased their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Down 0.3 %

Shares of Chevron stock opened at $150.75 on Monday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The company has a market capitalization of $277.83 billion, a P/E ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. The business’s fifty day moving average price is $146.07 and its two-hundred day moving average price is $153.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.08 EPS. As a group, research analysts forecast that Chevron Co. will post 11.06 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s dividend payout ratio is presently 59.98%.

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.