Precedent Wealth Partners LLC Purchases 945 Shares of Chevron Co. (NYSE:CVX)

Precedent Wealth Partners LLC raised its position in Chevron Co. (NYSE:CVX) by 9.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,872 shares of the oil and gas company’s stock after acquiring an additional 945 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Chevron were worth $1,601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacifica Partners Inc. increased its position in shares of Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC increased its holdings in Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC raised its position in Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC boosted its position in shares of Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares during the period. Finally, Mayfair Advisory Group LLC grew its stake in shares of Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVX shares. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays reduced their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, UBS Group raised their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Down 0.3 %

NYSE:CVX opened at $150.74 on Friday. The company has a market cap of $277.81 billion, a PE ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The stock has a 50-day simple moving average of $146.07 and a 200 day simple moving average of $153.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.08 EPS. On average, sell-side analysts expect that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared 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. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.