ZWJ Investment Counsel Inc. Purchases 4,209 Shares of Chevron Co. (NYSE:CVX)

ZWJ Investment Counsel Inc. increased its position in Chevron Co. (NYSE:CVX) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 229,370 shares of the oil and gas company’s stock after buying an additional 4,209 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Chevron were worth $33,779,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Anfield Capital Management LLC lifted its stake in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Chevron in the 1st quarter worth $55,000. Richardson Capital Management LLC purchased a new stake in Chevron in the 1st quarter worth $58,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Chevron in the 2nd quarter worth $59,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Scotiabank decreased their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Finally, UBS Group increased their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.81.

Chevron Trading Up 0.6 %

NYSE:CVX opened at $148.69 on Thursday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The firm has a 50 day moving average of $145.82 and a 200 day moving average of $153.78. 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 stock has a market capitalization of $274.03 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.08 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced 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 dividend yield of 4.38%. Chevron’s dividend payout ratio (DPR) 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.