Stonegate Investment Group LLC Acquires 15,925 Shares of Chevron Co. (NYSE:CVX)

Stonegate Investment Group LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 787,081 shares of the oil and gas company’s stock after acquiring an additional 15,925 shares during the period. Chevron makes up about 3.1% of Stonegate Investment Group LLC’s investment portfolio, making the stock its 8th largest position. Stonegate Investment Group LLC’s holdings in Chevron were worth $115,913,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Anfield Capital Management LLC boosted its position 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 worth $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth about $47,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Chevron during the 1st quarter worth about $55,000. Finally, Richardson Capital Management LLC acquired a new stake in Chevron during the 1st quarter worth about $58,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on CVX. Barclays cut their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Wells Fargo & Company cut their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Price Performance

CVX stock traded down $1.42 during trading on Friday, hitting $149.78. The company had a trading volume of 1,096,373 shares, compared to its average volume of 7,686,486. The company has a fifty day moving average price of $145.96 and a two-hundred day moving average price of $153.76. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market cap of $273.94 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.74 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.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.08 EPS. Equities research analysts expect that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.35%. Chevron’s dividend payout ratio is presently 64.55%.

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.