Berry Wealth Group LP Acquires 236 Shares of Chevron Co. (NYSE:CVX)

Berry Wealth Group LP increased its stake in shares of Chevron Co. (NYSE:CVX) by 10.0% during the third quarter, HoldingsChannel reports. The fund owned 2,605 shares of the oil and gas company’s stock after acquiring an additional 236 shares during the quarter. Berry Wealth Group LP’s holdings in Chevron were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Eagle Capital Management LLC raised its position in shares of Chevron by 0.5% during 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 during the last quarter. Lane & Associates LLC acquired a new position in Chevron in the 1st quarter valued at approximately $345,000. KCM Investment Advisors LLC lifted 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 worth $52,299,000 after acquiring an additional 8,168 shares during the period. Hosking Partners LLP acquired a new stake in shares of Chevron during the 1st quarter worth approximately $4,924,000. Finally, Garner Asset Management Corp increased its position in shares of Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after purchasing an additional 2,530 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Bank of America began coverage on Chevron in a research report on Thursday. They issued a “buy” rating and a $168.00 target price for the company. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Barclays dropped their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Price Performance

NYSE CVX traded up $0.22 on Monday, hitting $150.97. 2,089,032 shares of the company were exchanged, compared to its average volume of 7,679,167. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a 50 day moving average of $146.07 and a two-hundred day moving average of $153.62. 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 $278.23 billion, a P/E ratio of 13.94, a P/E/G ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results 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). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.08 earnings per share. On average, equities analysts predict that Chevron Co. will post 11.06 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.32%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.