Ullmann Wealth Partners Group LLC Acquires 2,307 Shares of Chevron Co. (NYSE:CVX)

Ullmann Wealth Partners Group LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 151.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,834 shares of the oil and gas company’s stock after buying an additional 2,307 shares during the quarter. Ullmann Wealth Partners Group LLC’s holdings in Chevron were worth $565,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. American Capital Advisory LLC raised its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Anfield Capital Management LLC raised its holdings in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Cooksen Wealth LLC bought a new position in Chevron in the 4th quarter worth $40,000. Finally, Livelsberger Financial Advisory bought a new position in Chevron in the 4th quarter worth $46,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

NYSE CVX traded down $4.05 on Tuesday, reaching $147.73. 6,700,651 shares of the stock were exchanged, compared to its average volume of 7,742,076. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The firm has a market capitalization of $272.26 billion, a PE ratio of 13.76, a PEG ratio of 2.72 and a beta of 1.09. The company’s 50-day simple moving average is $145.61 and its two-hundred day simple moving average is $153.89. 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 announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the business earned $3.08 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts expect that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVX. Barclays decreased their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank decreased 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, October 10th. Finally, UBS Group upped their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $176.81.

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.