Dearborn Partners LLC Has $9.88 Million Position in Chevron Co. (NYSE:CVX)

Dearborn Partners LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 0.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 67,057 shares of the oil and gas company’s stock after selling 113 shares during the period. Dearborn Partners LLC’s holdings in Chevron were worth $9,875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in Chevron by 1.8% in the third quarter. CIBC Asset Management Inc now owns 623,758 shares of the oil and gas company’s stock valued at $91,860,000 after acquiring an additional 10,890 shares during the last quarter. ING Groep NV bought a new position in shares of Chevron in the 3rd quarter valued at about $732,000. Sargent Investment Group LLC grew its position in shares of Chevron by 14.3% during the 3rd quarter. Sargent Investment Group LLC now owns 19,415 shares of the oil and gas company’s stock worth $2,859,000 after buying an additional 2,432 shares during the period. Lifeworks Advisors LLC bought a new stake in shares of Chevron during the third quarter worth approximately $233,000. Finally, MeadowBrook Investment Advisors LLC lifted its holdings in Chevron by 62.0% in the third quarter. MeadowBrook Investment Advisors LLC now owns 3,575 shares of the oil and gas company’s stock valued at $526,000 after buying an additional 1,368 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 1.9 %

CVX opened at $161.77 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s 50-day moving average is $148.51 and its 200 day moving average is $152.65. The firm has a market capitalization of $290.72 billion, a P/E ratio of 17.78, a PEG ratio of 3.57 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the business posted $3.05 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.03%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. Truist Financial raised their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Barclays boosted their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

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.