Thrive Wealth Management LLC Acquires 174 Shares of Chevron Co. (NYSE:CVX)

Thrive Wealth Management LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,219 shares of the oil and gas company’s stock after purchasing an additional 174 shares during the quarter. Thrive Wealth Management LLC’s holdings in Chevron were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CVX. Eagle Capital Management LLC grew its position in shares of Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the last quarter. Lane & Associates LLC bought a new position in Chevron during the 1st quarter worth $345,000. KCM Investment Advisors LLC lifted its holdings in shares of Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after buying an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Chevron during the 4th quarter worth approximately $46,000. Finally, Hosking Partners LLP acquired a new stake in Chevron during the first quarter worth approximately $4,924,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.3 %

NYSE CVX traded down $0.52 during mid-day trading on Friday, hitting $150.73. The company’s stock had a trading volume of 7,892,508 shares, compared to its average volume of 7,830,814. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company’s 50 day simple moving average is $145.99 and its 200 day simple moving average is $154.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The firm has a market capitalization of $277.79 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.64 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during 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 revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.08 EPS. Analysts anticipate that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. Scotiabank cut their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Wells Fargo & Company lowered their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial decreased their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $179.00.

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.