Physicians Financial Services Inc. Purchases 165 Shares of Chevron Co. (NYSE:CVX)

Physicians Financial Services Inc. lifted its position in shares of Chevron Co. (NYSE:CVX) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,266 shares of the oil and gas company’s stock after purchasing an additional 165 shares during the quarter. Chevron comprises 1.8% of Physicians Financial Services Inc.’s investment portfolio, making the stock its 14th biggest holding. Physicians Financial Services Inc.’s holdings in Chevron were worth $5,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rational Advisors LLC purchased a new stake in shares of Chevron in the 3rd quarter worth approximately $29,000. Anfield Capital Management LLC grew its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter worth about $47,000. Finally, Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter worth about $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of Chevron stock traded down $0.72 on Friday, hitting $156.05. 680,415 shares of the company’s stock were exchanged, compared to its average volume of 7,639,195. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a 50-day simple moving average of $147.43 and a 200-day simple moving average of $152.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $285.40 billion, a PE ratio of 17.22, a PEG ratio of 3.53 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.05 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 10.59 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.18%. Chevron’s payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price 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. Truist Financial boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus 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.