Tyche Wealth Partners LLC Increases Stake in Chevron Co. (NYSE:CVX)

Tyche Wealth Partners LLC increased its holdings in Chevron Co. (NYSE:CVX) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,791 shares of the oil and gas company’s stock after purchasing an additional 99 shares during the quarter. Chevron accounts for 1.1% of Tyche Wealth Partners LLC’s investment portfolio, making the stock its 20th biggest position. Tyche Wealth Partners LLC’s holdings in Chevron were worth $4,976,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. MONECO Advisors LLC increased its holdings in shares of Chevron by 2.2% in the third quarter. MONECO Advisors LLC now owns 18,792 shares of the oil and gas company’s stock worth $2,767,000 after buying an additional 409 shares during the period. MBA Advisors LLC grew its holdings in shares of Chevron by 6.4% in the third quarter. MBA Advisors LLC now owns 6,232 shares of the oil and gas company’s stock worth $918,000 after purchasing an additional 377 shares during the last quarter. Fortitude Family Office LLC grew its holdings in shares of Chevron by 166.4% in the third quarter. Fortitude Family Office LLC now owns 5,278 shares of the oil and gas company’s stock worth $777,000 after purchasing an additional 3,297 shares during the last quarter. Barry Investment Advisors LLC raised its holdings in Chevron by 4.4% during the 3rd quarter. Barry Investment Advisors LLC now owns 4,275 shares of the oil and gas company’s stock valued at $630,000 after buying an additional 181 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Chevron by 131.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,291 shares of the oil and gas company’s stock valued at $926,000 after buying an additional 3,573 shares during the period. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CVX shares. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Barclays reduced their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Performance

Shares of CVX stock opened at $148.55 on Wednesday. The company has a market capitalization of $271.69 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. 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 $146.74 and its 200 day moving average is $153.08.

Chevron (NYSE:CVX) last posted its quarterly 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 analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts expect that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 64.55%.

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.