Chevron Co. (NYSE:CVX) Shares Bought by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 15,750.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,901,345 shares of the oil and gas company’s stock after acquiring an additional 3,876,731 shares during the quarter. Chevron makes up about 3.7% of Pathway Financial Advisers LLC’s portfolio, making the stock its 9th biggest holding. Pathway Financial Advisers LLC’s holdings in Chevron were worth $574,551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Horizon Bancorp Inc. IN lifted its holdings in shares of Chevron by 18.4% during the third quarter. Horizon Bancorp Inc. IN now owns 1,454 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 226 shares during the last quarter. Sageworth Trust Co purchased a new position in Chevron in the 3rd quarter worth about $600,000. Arkadios Wealth Advisors lifted its stake in Chevron by 12.8% during the third quarter. Arkadios Wealth Advisors now owns 78,969 shares of the oil and gas company’s stock valued at $11,630,000 after buying an additional 8,974 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Chevron by 20.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,513 shares of the oil and gas company’s stock worth $87,437,000 after buying an additional 102,422 shares during the period. Finally, BKM Wealth Management LLC boosted its holdings in shares of Chevron by 5.9% in the third quarter. BKM Wealth Management LLC now owns 14,149 shares of the oil and gas company’s stock worth $2,084,000 after buying an additional 787 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. 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. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays reduced their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. 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, Chevron currently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Performance

CVX stock opened at $150.81 on Friday. The firm has a 50 day moving average of $146.59 and a two-hundred day moving average of $153.30. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a market capitalization of $277.94 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 3.30 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company earned $3.08 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 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.