MONECO Advisors LLC Acquires 409 Shares of Chevron Co. (NYSE:CVX)

MONECO Advisors LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,792 shares of the oil and gas company’s stock after purchasing an additional 409 shares during the period. MONECO Advisors LLC’s holdings in Chevron were worth $2,767,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Founders Financial Securities LLC increased its holdings in Chevron by 34.5% during the 1st quarter. Founders Financial Securities LLC now owns 14,929 shares of the oil and gas company’s stock worth $2,355,000 after purchasing an additional 3,828 shares in the last quarter. New Mexico Educational Retirement Board grew its holdings in shares of Chevron by 21.1% during the first quarter. New Mexico Educational Retirement Board now owns 112,116 shares of the oil and gas company’s stock worth $18,256,000 after buying an additional 19,500 shares in the last quarter. River Street Advisors LLC raised its position in Chevron by 8.5% in the 1st quarter. River Street Advisors LLC now owns 2,719 shares of the oil and gas company’s stock valued at $429,000 after buying an additional 212 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in Chevron in the 1st quarter valued at approximately $58,000. Finally, Cornerstone Wealth Group LLC lifted its stake in Chevron by 55.0% in the 1st quarter. Cornerstone Wealth Group LLC now owns 46,236 shares of the oil and gas company’s stock valued at $7,293,000 after acquiring an additional 16,406 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE:CVX traded down $1.16 on Tuesday, hitting $149.38. The company had a trading volume of 281,905 shares, compared to its average volume of 7,622,052. The stock has a 50 day moving average price of $146.66 and a 200 day moving average price of $153.15. 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 stock has a market cap of $273.20 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 3.29 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the company earned $3.08 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is 64.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. UBS Group raised their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Bank of America began coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron 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.