North Star Investment Management Corp. Buys 345 Shares of Chevron Co. (NYSE:CVX)

North Star Investment Management Corp. grew its holdings in Chevron Co. (NYSE:CVX) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 22,541 shares of the oil and gas company’s stock after purchasing an additional 345 shares during the quarter. North Star Investment Management Corp.’s holdings in Chevron were worth $3,320,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cornerstone Capital Inc. lifted its stake in Chevron by 4.3% in the third quarter. Cornerstone Capital Inc. now owns 4,057 shares of the oil and gas company’s stock valued at $597,000 after purchasing an additional 166 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Chevron by 15.9% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 57,240 shares of the oil and gas company’s stock worth $8,430,000 after purchasing an additional 7,845 shares during the period. Ameritas Advisory Services LLC raised its position in Chevron by 2.0% during the third quarter. Ameritas Advisory Services LLC now owns 36,104 shares of the oil and gas company’s stock valued at $5,317,000 after purchasing an additional 702 shares in the last quarter. Heritage Investors Management Corp raised its position in Chevron by 1.2% during the third quarter. Heritage Investors Management Corp now owns 160,112 shares of the oil and gas company’s stock valued at $23,580,000 after purchasing an additional 1,920 shares in the last quarter. Finally, Pittenger & Anderson Inc. increased its holdings in shares of Chevron by 6.5% in the third quarter. Pittenger & Anderson Inc. now owns 74,036 shares of the oil and gas company’s stock worth $10,903,000 after buying an additional 4,535 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock traded down $0.02 during trading on Tuesday, hitting $153.95. The stock had a trading volume of 1,208,008 shares, compared to its average volume of 7,626,131. The business has a fifty day moving average of $147.07 and a two-hundred day moving average of $152.91. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market cap of $281.56 billion, a P/E ratio of 16.96, a PEG ratio of 3.39 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the business earned $3.05 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 10.7 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday. Wells Fargo & Company decreased their price objective 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. UBS Group boosted their target price on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.93.

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.