Marietta Wealth Management LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Marietta Wealth Management LLC boosted its stake in Chevron Co. (NYSE:CVX) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,484 shares of the oil and gas company’s stock after purchasing an additional 3,965 shares during the quarter. Marietta Wealth Management LLC’s holdings in Chevron were worth $5,962,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after acquiring an additional 501,969 shares during the last quarter. Capital World Investors grew its position in Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after acquiring an additional 495,879 shares in the last quarter. Legal & General Group Plc increased its stake in Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after acquiring an additional 629,644 shares during the last quarter. Capital International Investors raised its position in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Chevron by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after purchasing an additional 126,889 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.0 %

Shares of NYSE:CVX opened at $150.92 on Wednesday. The business’s 50 day moving average is $146.32 and its 200 day moving average is $153.47. The stock has a market cap of $278.14 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. 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 analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.08 EPS. Sell-side analysts predict that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

CVX has been the topic of several analyst reports. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. UBS Group boosted their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Barclays dropped their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Truist Financial cut their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.07.

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.