MBA Advisors LLC Buys 377 Shares of Chevron Co. (NYSE:CVX)

MBA Advisors LLC grew its stake in Chevron Co. (NYSE:CVX) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,232 shares of the oil and gas company’s stock after purchasing an additional 377 shares during the period. MBA Advisors LLC’s holdings in Chevron were worth $918,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Anfield Capital Management LLC grew its position in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC lifted its holdings in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in Chevron during the 3rd quarter worth $47,000. Livelsberger Financial Advisory acquired a new position in Chevron during the 3rd quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron during the 1st quarter worth $55,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX opened at $150.54 on Tuesday. 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 Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a fifty day simple moving average of $146.66 and a 200 day simple moving average of $153.15. The stock has a market cap of $275.33 billion, a P/E ratio of 14.91, a P/E/G ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 EPS. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 64.55%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research reports. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company reduced their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. 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. Finally, UBS Group upped their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

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.