Umpqua Bank Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Umpqua Bank boosted its holdings in Chevron Co. (NYSE:CVX) by 1.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 20,200 shares of the oil and gas company’s stock after buying an additional 373 shares during the period. Chevron accounts for approximately 1.1% of Umpqua Bank’s holdings, making the stock its 22nd biggest position. Umpqua Bank’s holdings in Chevron were worth $2,975,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. China Universal Asset Management Co. Ltd. bought a new stake in shares of Chevron in the first quarter worth about $566,000. Stack Financial Management Inc raised its holdings in shares of Chevron by 31.2% during the 1st quarter. Stack Financial Management Inc now owns 283,936 shares of the oil and gas company’s stock worth $44,788,000 after acquiring an additional 67,550 shares in the last quarter. Graypoint LLC boosted its position in shares of Chevron by 11.0% during the 1st quarter. Graypoint LLC now owns 29,007 shares of the oil and gas company’s stock valued at $4,576,000 after acquiring an additional 2,880 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Chevron by 5.1% in the first quarter. Daiwa Securities Group Inc. now owns 249,039 shares of the oil and gas company’s stock valued at $39,283,000 after purchasing an additional 12,126 shares in the last quarter. Finally, Wright Investors Service Inc. increased its position in Chevron by 0.5% in the first quarter. Wright Investors Service Inc. now owns 22,695 shares of the oil and gas company’s stock worth $3,580,000 after purchasing an additional 117 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 2.3 %

CVX stock traded up $3.55 during trading on Wednesday, hitting $156.96. The company had a trading volume of 818,676 shares, compared to its average volume of 7,616,659. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a 50 day simple moving average of $147.20 and a 200-day simple moving average of $152.86. The firm has a market capitalization of $287.07 billion, a P/E ratio of 16.86, a PEG ratio of 3.43 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 10.65 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Truist Financial increased their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Barclays boosted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.