Retirement Guys Formula LLC Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Retirement Guys Formula LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 11.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,613 shares of the oil and gas company’s stock after acquiring an additional 590 shares during the period. Retirement Guys Formula LLC’s holdings in Chevron were worth $827,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eagle Capital Management LLC increased its position in shares of 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 valued at $5,435,000 after purchasing an additional 163 shares during the last quarter. Lane & Associates LLC purchased a new stake in shares of Chevron during the 1st quarter valued at about $345,000. KCM Investment Advisors LLC increased its position in shares of Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the last quarter. Hosking Partners LLP purchased a new stake in shares of Chevron during the 1st quarter valued at about $4,924,000. Finally, Garner Asset Management Corp increased its position in shares of Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after purchasing an additional 2,530 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVX. Bank of America assumed coverage on shares of Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 price target for the company. Wells Fargo & Company reduced 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. Barclays reduced their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Finally, Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Price Performance

Shares of NYSE CVX traded up $0.29 during midday trading on Monday, reaching $151.04. 2,337,790 shares of the stock traded hands, compared to its average volume of 7,680,393. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $278.36 billion, a PE ratio of 13.94, a P/E/G ratio of 2.74 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s 50 day moving average is $146.07 and its 200 day moving average is $153.62.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 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 firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the company posted $3.08 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 11.06 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued 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 4.32%. Chevron’s 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.