Chevron Co. (NYSE:CVX) Shares Purchased by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. boosted its stake in Chevron Co. (NYSE:CVX) by 10.4% in the third quarter, Holdings Channel.com reports. The firm owned 2,170 shares of the oil and gas company’s stock after acquiring an additional 205 shares during the quarter. Steigerwald Gordon & Koch Inc.’s holdings in Chevron were worth $320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bridgewater Associates LP boosted its stake in Chevron by 952.5% in the fourth quarter. Bridgewater Associates LP now owns 76,812 shares of the oil and gas company’s stock valued at $11,457,000 after acquiring an additional 69,514 shares during the period. Vivaldi Capital Management LP acquired a new position in Chevron in the fourth quarter worth approximately $355,000. LM Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter valued at $385,000. Kestra Advisory Services LLC increased its position in shares of Chevron by 2.7% in the fourth quarter. Kestra Advisory Services LLC now owns 274,007 shares of the oil and gas company’s stock worth $40,871,000 after acquiring an additional 7,216 shares in the last quarter. Finally, Gibson Capital LLC purchased a new position in Chevron during the 4th quarter worth approximately $495,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Scotiabank dropped 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. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research note on Tuesday. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.59.

Chevron Stock Up 0.3 %

Shares of NYSE CVX traded up $0.50 during midday trading on Thursday, reaching $150.15. The company’s stock had a trading volume of 1,334,681 shares, compared to its average volume of 7,763,369. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The stock has a 50 day simple moving average of $145.45 and a 200-day simple moving average of $154.02. The stock has a market capitalization of $274.61 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.72 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company 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 for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company posted $3.08 earnings per share. Equities research analysts predict that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 dividend yield of 4.34%. Chevron’s dividend payout ratio is presently 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.