Greystone Financial Group LLC Raises Holdings in Chevron Co. (NYSE:CVX)

Greystone Financial Group LLC boosted its position in Chevron Co. (NYSE:CVX) by 2.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 54,676 shares of the oil and gas company’s stock after acquiring an additional 1,348 shares during the period. Chevron accounts for approximately 1.4% of Greystone Financial Group LLC’s portfolio, making the stock its 27th largest holding. Greystone Financial Group LLC’s holdings in Chevron were worth $8,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Keene & Associates Inc. lifted its position in shares of Chevron by 2.0% during the third quarter. Keene & Associates Inc. now owns 18,052 shares of the oil and gas company’s stock worth $2,659,000 after acquiring an additional 349 shares in the last quarter. Global Assets Advisory LLC purchased a new position in shares of Chevron in the third quarter valued at $1,079,000. Romano Brothers AND Company raised its stake in shares of Chevron by 7.5% during the 3rd quarter. Romano Brothers AND Company now owns 14,039 shares of the oil and gas company’s stock valued at $2,068,000 after purchasing an additional 985 shares during the period. Patrick M Sweeney & Associates Inc. lifted its holdings in Chevron by 12.0% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 3,426 shares of the oil and gas company’s stock worth $505,000 after purchasing an additional 366 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in Chevron by 18.8% in the 3rd quarter. Brighton Jones LLC now owns 29,312 shares of the oil and gas company’s stock worth $4,317,000 after purchasing an additional 4,640 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.0 %

Shares of NYSE CVX opened at $150.46 on Friday. The stock has a market capitalization of $275.18 billion, a P/E ratio of 14.90, a PEG ratio of 3.30 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 Co. has a one year low of $135.37 and a one year high of $167.11. The firm’s 50 day simple moving average is $146.44 and its two-hundred day simple moving average is $153.45.

Chevron (NYSE:CVX) last issued 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is presently 64.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CVX shares. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Truist Financial lowered their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Barclays reduced their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, UBS Group boosted their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target 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.