Chevron Co. (NYSE:CVX) Shares Purchased by Eagle Strategies LLC

Eagle Strategies LLC raised its position in Chevron Co. (NYSE:CVX) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,833 shares of the oil and gas company’s stock after purchasing an additional 133 shares during the quarter. Eagle Strategies LLC’s holdings in Chevron were worth $270,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after acquiring an additional 501,969 shares during the period. Capital World Investors boosted its stake in shares of Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the period. Legal & General Group Plc grew its holdings in shares of Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after purchasing an additional 629,644 shares in the last quarter. Capital International Investors increased its stake in Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after buying an additional 126,889 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock opened at $148.06 on Thursday. The stock’s 50-day moving average is $146.79 and its two-hundred day moving average is $153.04. 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 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market cap of $270.79 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 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 company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $3.08 EPS. Analysts predict that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 64.55%.

Wall Street Analyst Weigh In

Several research firms have commented on CVX. Barclays dropped their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron 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.