Easterly Investment Partners LLC Acquires 21,996 Shares of Chevron Co. (NYSE:CVX)

Easterly Investment Partners LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 75.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,271 shares of the oil and gas company’s stock after buying an additional 21,996 shares during the period. Easterly Investment Partners LLC’s holdings in Chevron were worth $7,551,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Rational Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Anfield Capital Management LLC boosted its holdings in shares of 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 buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its holdings in shares of 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 buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Chevron during the third quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Chevron during the third quarter worth approximately $47,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial upped their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research 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 report on Thursday, October 10th. Finally, UBS Group upped their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Performance

Shares of Chevron stock traded up $0.13 during trading hours on Friday, hitting $156.90. 1,538,497 shares of the company’s stock traded hands, compared to its average volume of 7,643,150. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market capitalization of $286.96 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 3.53 and a beta of 1.09. The company has a fifty day simple moving average of $147.43 and a 200-day simple moving average of $152.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the firm posted $3.05 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 10.59 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.