Chevron Co. (NYSE:CVX) Shares Purchased by Cornerstone Capital Inc.

Cornerstone Capital Inc. raised its stake in Chevron Co. (NYSE:CVX) by 4.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,057 shares of the oil and gas company’s stock after buying an additional 166 shares during the quarter. Cornerstone Capital Inc.’s holdings in Chevron were worth $597,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Montz Harcus Wealth Management LLC boosted its stake in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC grew its holdings in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares in the last quarter. Cyndeo Wealth Partners LLC increased its position in Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after acquiring an additional 67 shares during the period. S.A. Mason LLC increased its position in Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after acquiring an additional 67 shares during the period. Finally, Jaffetilchin Investment Partners LLC boosted its position in Chevron by 1.2% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,777 shares of the oil and gas company’s stock worth $904,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CVX shares. Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Scotiabank dropped their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday. Finally, Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Up 0.2 %

CVX traded up $0.34 during trading on Tuesday, reaching $154.31. The company had a trading volume of 1,049,150 shares, compared to its average volume of 7,625,389. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a market cap of $282.22 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 3.39 and a beta of 1.09. The firm’s 50-day simple moving average is $147.07 and its 200 day simple moving average is $152.91.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the firm posted $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 10.7 earnings per share for the current year.

Chevron Dividend Announcement

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

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.