SAM Advisors LLC Acquires New Shares in Chevron Co. (NYSE:CVX)

SAM Advisors LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,057 shares of the oil and gas company’s stock, valued at approximately $892,000. Chevron makes up 0.3% of SAM Advisors LLC’s investment portfolio, making the stock its 25th largest position.

Several other hedge funds have also recently bought and sold shares of CVX. Rational Advisors LLC purchased a new stake in shares of Chevron in the third quarter valued at $29,000. Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC grew its position in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Chevron in the third quarter valued at $47,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the third quarter valued at $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVX. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada lifted their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Stock Up 2.2 %

Shares of NYSE CVX opened at $158.69 on Thursday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market cap of $285.18 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 3.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock’s 50-day simple moving average is $148.51 and its 200-day simple moving average is $152.65.

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, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the company earned $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.11%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.