WealthPlan Investment Management LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

WealthPlan Investment Management LLC grew its position in Chevron Co. (NYSE:CVX) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,423 shares of the oil and gas company’s stock after purchasing an additional 8,795 shares during the quarter. Chevron makes up about 1.2% of WealthPlan Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. WealthPlan Investment Management LLC’s holdings in Chevron were worth $11,549,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Marietta Wealth Management LLC increased its holdings in Chevron by 10.9% in the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after acquiring an additional 3,965 shares during the last quarter. Leo Wealth LLC increased its holdings in shares of Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 1,354 shares during the last quarter. Garner Asset Management Corp lifted its position in shares of Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after buying an additional 2,530 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its stake in Chevron by 3.2% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock valued at $16,930,000 after buying an additional 3,561 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new position in Chevron during the 3rd quarter valued at approximately $163,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.2 %

Shares of NYSE CVX opened at $156.55 on Tuesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 business has a fifty day simple moving average of $147.97 and a two-hundred day simple moving average of $152.68. The firm has a market cap of $286.31 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 3.51 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.05 earnings per share. Analysts expect that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CVX shares. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, UBS Group raised their price target on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

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.