Chevron Co. (NYSE:CVX) Shares Acquired by LifeSteps Financial Inc.

LifeSteps Financial Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,329 shares of the oil and gas company’s stock after purchasing an additional 202 shares during the quarter. LifeSteps Financial Inc.’s holdings in Chevron were worth $785,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Eagle Capital Management LLC increased its holdings in shares of 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 valued at $5,435,000 after buying an additional 163 shares in the last quarter. Lane & Associates LLC purchased a new stake in shares of Chevron during the first quarter valued at $345,000. KCM Investment Advisors LLC boosted its position in shares of Chevron by 2.5% in the 1st 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 during the period. Hosking Partners LLP purchased a new position in Chevron in the 1st quarter worth about $4,924,000. Finally, Garner Asset Management Corp raised its holdings in Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after buying an additional 2,530 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE CVX traded up $1.23 during trading hours on Thursday, hitting $149.96. 3,114,946 shares of the company’s stock were exchanged, compared to its average volume of 7,701,309. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. 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 $276.37 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 2.72 and a beta of 1.09. The company’s 50-day moving average price is $145.82 and its 200-day moving average price is $153.78.

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 return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.35%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVX shares. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. 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. Bank of America started coverage on Chevron in a research note on Thursday. They issued a “buy” rating and a $168.00 price objective for the company. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Chevron in a report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.81.

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.