Chevron Co. (NYSE:CVX) Shares Acquired by Allied Investment Advisors LLC

Allied Investment Advisors LLC raised its position in Chevron Co. (NYSE:CVX) by 2.3% in the 3rd quarter, Holdings Channel reports. The fund owned 74,536 shares of the oil and gas company’s stock after acquiring an additional 1,702 shares during the period. Chevron accounts for approximately 2.2% of Allied Investment Advisors LLC’s holdings, making the stock its 19th biggest position. Allied Investment Advisors LLC’s holdings in Chevron were worth $10,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Berkshire Hathaway Inc lifted its holdings in Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Chevron by 3.0% in the second 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 purchasing an additional 501,969 shares during the period. Capital World Investors boosted its holdings in Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after buying an additional 495,879 shares in the last quarter. Legal & General Group Plc increased its holdings in 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 buying an additional 629,644 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of 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 valued at $2,116,600,000 after acquiring an additional 743,042 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group reduced their price target on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Scotiabank decreased their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada decreased their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $179.00.

Chevron Stock Performance

NYSE:CVX traded down $0.51 during trading hours on Friday, reaching $150.74. 7,895,285 shares of the stock were exchanged, compared to its average volume of 7,830,814. The stock has a market capitalization of $277.81 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.64 and a beta of 1.09. The firm has a 50 day simple moving average of $145.99 and a 200-day simple moving average of $154.13. 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 Co. has a 52 week low of $135.37 and a 52 week high of $170.17.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid 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 payout ratio is 59.98%.

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.