HBW Advisory Services LLC Raises Stake in Chevron Co. (NYSE:CVX)

HBW Advisory Services LLC lifted its position in Chevron Co. (NYSE:CVX) by 304.3% in the third quarter, HoldingsChannel.com reports. The firm owned 17,625 shares of the oil and gas company’s stock after purchasing an additional 13,266 shares during the quarter. HBW Advisory Services LLC’s holdings in Chevron were worth $2,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Pacifica Partners Inc. raised its holdings in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC grew its stake in shares of Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC increased its position in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC increased its position in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares during the period. Finally, Ellenbecker Investment Group raised its stake in shares of Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. UBS Group reduced their price target on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

Chevron Stock Down 0.6 %

Shares of CVX stock traded down $0.90 during mid-day trading on Friday, reaching $150.35. 4,629,054 shares of the company were exchanged, compared to its average volume of 7,813,104. 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 fifty-two week low of $135.37 and a fifty-two week high of $170.17. The business’s 50 day simple moving average is $146.13 and its 200 day simple moving average is $154.17. The company has a market capitalization of $277.09 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.64 and a beta of 1.09.

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 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 net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. Research analysts predict that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Announces Dividend

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 $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.