Carlton Hofferkamp & Jenks Wealth Management LLC reduced its position in Chevron Co. (NYSE:CVX – Free Report) by 1.5% during the third quarter, HoldingsChannel reports. The fund owned 16,488 shares of the oil and gas company’s stock after selling 251 shares during the quarter. Chevron comprises 0.8% of Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings, making the stock its 29th biggest position. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Chevron were worth $2,539,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Rational Advisors LLC purchased a new position in Chevron during the 3rd quarter valued at about $29,000. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in Chevron during the 3rd quarter valued at about $47,000. Finally, Livelsberger Financial Advisory purchased a new position in Chevron during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on CVX. Truist Financial lifted their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Finally, UBS Group boosted their price objective on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.93.
Chevron Price Performance
Shares of Chevron stock opened at $155.30 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $279.09 billion, a PE ratio of 17.07, a P/E/G ratio of 3.50 and a beta of 1.09. The business has a 50 day moving average of $148.18 and a 200 day moving average of $152.61. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.05 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 10.59 earnings per share for the current year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.20%. Chevron’s payout ratio is 71.65%.
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.
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