Atlanta Consulting Group Advisors LLC Has $3.87 Million Stake in Chevron Co. (NYSE:CVX)

Atlanta Consulting Group Advisors LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 28.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 26,307 shares of the oil and gas company’s stock after purchasing an additional 5,788 shares during the period. Chevron makes up approximately 1.0% of Atlanta Consulting Group Advisors LLC’s portfolio, making the stock its 19th biggest holding. Atlanta Consulting Group Advisors LLC’s holdings in Chevron were worth $3,874,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CVX. China Universal Asset Management Co. Ltd. purchased a new position in shares of Chevron in the 1st quarter worth approximately $566,000. Empowered Funds LLC boosted its stake in shares of Chevron by 5.4% in the 1st quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock worth $67,670,000 after buying an additional 22,047 shares during the last quarter. Davis R M Inc. boosted its stake in shares of Chevron by 15.9% in the 1st quarter. Davis R M Inc. now owns 28,634 shares of the oil and gas company’s stock worth $4,517,000 after buying an additional 3,936 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its stake in Chevron by 16.4% in the first quarter. Signature Estate & Investment Advisors LLC now owns 334,778 shares of the oil and gas company’s stock valued at $52,808,000 after purchasing an additional 47,089 shares during the last quarter. Finally, Secured Retirement Advisors LLC lifted its stake in Chevron by 23.8% in the first quarter. Secured Retirement Advisors LLC now owns 11,391 shares of the oil and gas company’s stock valued at $1,797,000 after purchasing an additional 2,193 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays upped their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. UBS Group increased their target price on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Price Performance

Shares of CVX opened at $161.42 on Friday. The company has a market capitalization of $290.09 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $149.39 and a 200 day moving average of $152.62. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the company posted $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.