Capstone Wealth Management Group LLC Has $980,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Capstone Wealth Management Group LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,654 shares of the oil and gas company’s stock after selling 88 shares during the period. Capstone Wealth Management Group LLC’s holdings in Chevron were worth $980,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVX. American Capital Advisory LLC raised its holdings in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Anfield Capital Management LLC boosted its holdings in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC increased 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 purchasing an additional 100 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Chevron in the 1st quarter valued at approximately $55,000. Finally, Richardson Capital Management LLC acquired a new stake in shares of Chevron in the first quarter valued at approximately $58,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $147.73 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market cap of $272.26 billion, a PE ratio of 13.59, a P/E/G ratio of 2.72 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $170.17. The business’s 50-day moving average price is $145.70 and its two-hundred day moving average price is $153.82.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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 company had revenue of $51.18 billion for 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%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $3.08 earnings per share. As a group, analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. UBS Group increased their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company cut their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Barclays decreased their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Truist Financial reduced their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Six equities research 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, Chevron has an average rating of “Moderate Buy” and a consensus target price of $176.81.

About Chevron

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.