Community Financial Services Group LLC Increases Position in Chevron Co. (NYSE:CVX)

Community Financial Services Group LLC lifted its position in Chevron Co. (NYSE:CVX) by 3.4% in the third quarter, HoldingsChannel.com reports. The firm owned 14,320 shares of the oil and gas company’s stock after purchasing an additional 473 shares during the quarter. Community Financial Services Group LLC’s holdings in Chevron were worth $2,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Capital Management LLC grew its stake in Chevron by 0.5% during 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 acquiring an additional 163 shares in the last quarter. Lane & Associates LLC purchased a new position in Chevron during the first quarter valued at $345,000. KCM Investment Advisors LLC grew its stake in 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 valued at $52,299,000 after acquiring an additional 8,168 shares in the last quarter. Hosking Partners LLP purchased a new position in Chevron during the first quarter valued at $4,924,000. Finally, Garner Asset Management Corp grew its stake in Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after acquiring an additional 2,530 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.1 %

Shares of CVX opened at $150.84 on Tuesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a 50-day moving average of $146.19 and a 200 day moving average of $153.55. The firm has a market capitalization of $275.87 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 2.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.32%. Chevron’s dividend payout ratio is currently 64.55%.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Truist Financial cut their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Barclays dropped their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, UBS Group lifted their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

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.