Parcion Private Wealth LLC Acquires 6,792 Shares of Chevron Co. (NYSE:CVX)

Parcion Private Wealth LLC increased its holdings in Chevron Co. (NYSE:CVX) by 15.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,173 shares of the oil and gas company’s stock after purchasing an additional 6,792 shares during the quarter. Parcion Private Wealth LLC’s holdings in Chevron were worth $7,684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Norwood Financial Corp boosted its position in Chevron by 18.6% during the 1st quarter. Norwood Financial Corp now owns 1,530 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 240 shares during the period. Tevis Investment Management boosted its holdings in shares of Chevron by 21.3% during the first quarter. Tevis Investment Management now owns 9,081 shares of the oil and gas company’s stock worth $1,432,000 after purchasing an additional 1,595 shares during the period. Firethorn Wealth Partners LLC grew its stake in shares of Chevron by 41.6% in the first quarter. Firethorn Wealth Partners LLC now owns 3,759 shares of the oil and gas company’s stock worth $593,000 after purchasing an additional 1,105 shares during the last quarter. Sawyer & Company Inc increased its holdings in Chevron by 7.0% during the 1st quarter. Sawyer & Company Inc now owns 11,598 shares of the oil and gas company’s stock valued at $1,829,000 after purchasing an additional 758 shares during the period. Finally, Financial Management Professionals Inc. raised its position in Chevron by 6.5% during the 1st quarter. Financial Management Professionals Inc. now owns 6,218 shares of the oil and gas company’s stock valued at $981,000 after purchasing an additional 379 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Barclays reduced their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Trading Up 0.2 %

Chevron stock opened at $150.81 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a market capitalization of $277.94 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. The business’s fifty day simple moving average is $146.59 and its two-hundred day simple moving average is $153.30. 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 posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the firm earned $3.08 EPS. As a group, equities analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.