Sunpointe LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Sunpointe LLC grew its position in Chevron Co. (NYSE:CVX) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,177 shares of the oil and gas company’s stock after purchasing an additional 189 shares during the period. Sunpointe LLC’s holdings in Chevron were worth $468,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Stableford Capital II LLC lifted its stake in Chevron by 8.1% in the third quarter. Stableford Capital II LLC now owns 7,486 shares of the oil and gas company’s stock valued at $1,134,000 after purchasing an additional 564 shares during the last quarter. Proquility Private Wealth Partners LLC increased its position in Chevron by 15.5% in the third quarter. Proquility Private Wealth Partners LLC now owns 13,759 shares of the oil and gas company’s stock worth $2,026,000 after buying an additional 1,847 shares during the last quarter. Safeguard Financial LLC raised its stake in shares of Chevron by 14.7% in the third quarter. Safeguard Financial LLC now owns 2,726 shares of the oil and gas company’s stock valued at $401,000 after buying an additional 349 shares during the period. Tsfg LLC lifted its position in shares of Chevron by 6.7% during the 3rd quarter. Tsfg LLC now owns 3,327 shares of the oil and gas company’s stock valued at $490,000 after buying an additional 208 shares during the last quarter. Finally, Nexus Investment Management ULC grew its stake in shares of Chevron by 9.0% during the 3rd quarter. Nexus Investment Management ULC now owns 6,650 shares of the oil and gas company’s stock worth $979,000 after acquiring an additional 550 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.8 %

NYSE CVX traded up $1.25 on Wednesday, hitting $148.98. The company’s stock had a trading volume of 253,993 shares, compared to its average volume of 7,704,655. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The firm has a market cap of $274.57 billion, a P/E ratio of 13.59, a PEG ratio of 2.72 and a beta of 1.09. The company’s 50-day simple moving average is $145.70 and its 200 day simple moving average is $153.82.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.08 EPS. Research analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. UBS Group lifted their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays lowered their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.81.

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.