Chevron Co. (NYSE:CVX) Shares Bought by Ables Iannone Moore & Associates Inc.

Ables Iannone Moore & Associates Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,073 shares of the oil and gas company’s stock after purchasing an additional 287 shares during the period. Chevron makes up approximately 0.8% of Ables Iannone Moore & Associates Inc.’s holdings, making the stock its 26th biggest position. Ables Iannone Moore & Associates Inc.’s holdings in Chevron were worth $1,189,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Berkshire Hathaway Inc increased its position in shares of 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 worth $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings 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 in the last quarter. Capital World Investors lifted its holdings in shares of Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Legal & General Group Plc raised its position in Chevron by 4.9% during 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 during the period. Finally, Capital International Investors lifted its stake in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $150.97 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $146.26 and a 200-day simple moving average of $154.19. The stock has a market capitalization of $276.11 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.64 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17.

Chevron (NYSE:CVX) last released its earnings results 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). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.08 EPS. On average, sell-side analysts expect that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 4.32%. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVX. Wells Fargo & Company lowered their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Truist Financial decreased 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. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Scotiabank cut their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $180.00.

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.