Catalyst Capital Advisors LLC Invests $2.46 Million in Chevron Co. (NYSE:CVX)

Catalyst Capital Advisors LLC bought a new position in shares of Chevron Co. (NYSE:CVX) in the third quarter, HoldingsChannel reports. The institutional investor bought 16,667 shares of the oil and gas company’s stock, valued at approximately $2,455,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Montz Harcus Wealth Management LLC raised its position in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its position in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares during the last quarter. Cyndeo Wealth Partners LLC raised its position in shares of Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares during the last quarter. S.A. Mason LLC grew its stake in shares of Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after purchasing an additional 67 shares during the period. Finally, Jaffetilchin Investment Partners LLC grew its stake in shares of Chevron by 1.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 5,777 shares of the oil and gas company’s stock worth $904,000 after purchasing an additional 68 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.6 %

CVX stock opened at $153.97 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $281.60 billion, a P/E ratio of 16.92, a P/E/G ratio of 3.39 and a beta of 1.09. The business has a 50-day moving average of $147.07 and a 200-day moving average of $152.91. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate 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 13.07% and a net margin of 8.44%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.08 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.7 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.23%. Chevron’s dividend payout ratio is currently 71.65%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday. Truist Financial lifted their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.27.

Chevron Company 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.