Global Wealth Management Investment Advisory Inc. Has $8.43 Million Position in Chevron Co. (NYSE:CVX)

Global Wealth Management Investment Advisory Inc. increased its position in Chevron Co. (NYSE:CVX) by 15.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 57,240 shares of the oil and gas company’s stock after purchasing an additional 7,845 shares during the quarter. Chevron accounts for 1.8% of Global Wealth Management Investment Advisory Inc.’s portfolio, making the stock its 16th biggest holding. Global Wealth Management Investment Advisory Inc.’s holdings in Chevron were worth $8,430,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter valued at about $29,000. Anfield Capital Management LLC lifted its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted 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 worth $39,000 after buying an additional 100 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of Chevron during the 3rd quarter worth approximately $47,000. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $47,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CVX shares. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada lifted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday. Barclays boosted 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. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, Truist Financial boosted 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. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron Price Performance

NYSE:CVX traded up $0.23 during midday trading on Tuesday, hitting $154.20. The company had a trading volume of 421,078 shares, compared to its average volume of 7,622,454. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $282.02 billion, a PE ratio of 16.92, a P/E/G ratio of 3.39 and a beta of 1.09. The stock’s fifty day moving average price is $147.07 and its 200-day moving average price is $152.91. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm earned $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 10.7 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 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.