Sanctuary Wealth Management L.L.C. Takes Position in Chevron Co. (NYSE:CVX)

Sanctuary Wealth Management L.L.C. bought a new position in shares of Chevron Co. (NYSE:CVX) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 325 shares of the oil and gas company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new position in shares of Chevron in the first quarter worth $566,000. Duality Advisers LP purchased a new position in shares of Chevron in the 1st quarter valued at about $1,029,000. Empowered Funds LLC increased its stake in shares of Chevron by 5.4% during the first quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock worth $67,670,000 after buying an additional 22,047 shares during the period. Hilltop National Bank acquired a new stake in Chevron in the first quarter valued at approximately $1,200,000. Finally, Brooklyn Investment Group grew its holdings in Chevron by 35.5% during the 1st quarter. Brooklyn Investment Group now owns 7,053 shares of the oil and gas company’s stock worth $1,122,000 after acquiring an additional 1,846 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.1 %

CVX traded up $0.16 during midday trading on Friday, hitting $156.93. The company’s stock had a trading volume of 6,041,457 shares, compared to its average volume of 6,615,985. The firm has a market cap of $287.01 billion, a P/E ratio of 17.25, a PEG ratio of 3.51 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 current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $147.80 and a two-hundred day moving average price of $152.89.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Truist Financial raised their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

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.