Chevron Co. (NYSE:CVX) Stock Position Raised by Lewis Asset Management LLC

Lewis Asset Management LLC increased its stake in Chevron Co. (NYSE:CVX) by 11.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,464 shares of the oil and gas company’s stock after acquiring an additional 255 shares during the quarter. Lewis Asset Management LLC’s holdings in Chevron were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. China Universal Asset Management Co. Ltd. acquired a new stake in Chevron during the 1st quarter valued at $566,000. Embree Financial Group lifted its stake in Chevron by 4.5% in the 1st quarter. Embree Financial Group now owns 9,528 shares of the oil and gas company’s stock worth $1,503,000 after acquiring an additional 409 shares in the last quarter. Integris Wealth Management LLC boosted its position in Chevron by 1.9% during the 1st quarter. Integris Wealth Management LLC now owns 5,567 shares of the oil and gas company’s stock worth $878,000 after acquiring an additional 102 shares during the period. Signaturefd LLC boosted its position in Chevron by 2.6% during the 1st quarter. Signaturefd LLC now owns 26,475 shares of the oil and gas company’s stock worth $4,176,000 after acquiring an additional 664 shares during the period. Finally, Richardson Financial Services Inc. grew its stake in Chevron by 4.8% during the 1st quarter. Richardson Financial Services Inc. now owns 2,067 shares of the oil and gas company’s stock valued at $326,000 after acquiring an additional 95 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of Chevron stock opened at $156.73 on Friday. The firm has a 50 day simple moving average of $147.43 and a 200 day simple moving average of $152.90. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. 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 firm has a market cap of $286.65 billion, a P/E ratio of 17.22, a P/E/G ratio of 3.43 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $3.05 earnings per share. Sell-side analysts predict that Chevron Co. will post 10.65 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Analysts Set New Price Targets

CVX has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

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.