RFG Advisory LLC Increases Stake in Chevron Co. (NYSE:CVX)

RFG Advisory LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 16.1% in the 3rd quarter, Holdings Channel reports. The fund owned 40,373 shares of the oil and gas company’s stock after buying an additional 5,602 shares during the period. RFG Advisory LLC’s holdings in Chevron were worth $5,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of CVX. Eagle Capital Management LLC increased its position in shares of Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares in the last quarter. Lane & Associates LLC acquired a new position in Chevron during the first quarter worth $345,000. KCM Investment Advisors LLC boosted its stake in Chevron by 2.5% during 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 buying an additional 8,168 shares during the last quarter. Hosking Partners LLP acquired a new position in Chevron during the first quarter worth $4,924,000. Finally, Garner Asset Management Corp lifted its stake in shares of Chevron by 14.5% in 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. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Wells Fargo & Company decreased their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. UBS Group upped their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Bank of America began coverage on Chevron in a report on Thursday. They issued a “buy” rating and a $168.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Up 1.7 %

CVX opened at $151.19 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The stock has a market capitalization of $276.51 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.74 and a beta of 1.09. The business has a 50 day simple moving average of $145.96 and a 200-day simple moving average of $153.76. 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 issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for 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 prior year, the firm posted $3.08 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed 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 was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.31%. Chevron’s dividend payout ratio is presently 64.55%.

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.