Plan Group Financial LLC Raises Position in Chevron Co. (NYSE:CVX)

Plan Group Financial LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 25.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,530 shares of the oil and gas company’s stock after acquiring an additional 1,747 shares during the quarter. Plan Group Financial LLC’s holdings in Chevron were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC lifted its stake in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter worth $47,000. Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in Chevron in the 1st quarter worth $55,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $150.46 on Thursday. The stock has a market cap of $277.29 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a 50 day moving average price of $146.44 and a 200-day moving average price of $153.45. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.08 EPS. Equities analysts expect that Chevron Co. will post 10.95 EPS for the current year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CVX shares. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial decreased their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Barclays decreased 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. Finally, Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron 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.