BWM Planning LLC Purchases New Shares in Chevron Co. (NYSE:CVX)

BWM Planning LLC purchased a new position in shares of Chevron Co. (NYSE:CVX) in the third quarter, Holdings Channel.com reports. The fund purchased 10,770 shares of the oil and gas company’s stock, valued at approximately $1,586,000. Chevron makes up approximately 0.7% of BWM Planning LLC’s portfolio, making the stock its 29th largest position.

A number of other institutional investors also recently modified their holdings of CVX. Eagle Capital Management LLC boosted its holdings in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares in the last quarter. Lane & Associates LLC bought a new stake in Chevron during the first quarter valued at $345,000. KCM Investment Advisors LLC raised its position in Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Chevron in the fourth quarter worth about $46,000. Finally, Hosking Partners LLP purchased a new position in shares of Chevron in the first quarter worth about $4,924,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX traded up $1.11 on Friday, reaching $151.73. 865,510 shares of the company’s stock were exchanged, compared to its average volume of 7,744,020. The firm has a market capitalization of $277.50 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 2.70 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The business’s 50-day moving average is $145.41 and its two-hundred day moving average is $153.99. The company has a quick ratio of 0.85, a current ratio of 1.16 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the company posted $3.08 EPS. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 11.09 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is 64.55%.

Analyst Ratings Changes

A number of analysts have recently commented on CVX shares. UBS Group boosted their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday. Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $177.59.

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.