Chevron Co. (NYSE:CVX) Stake Lifted by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in Chevron Co. (NYSE:CVXFree Report) by 375.4% during the third quarter, Holdings Channel.com reports. The fund owned 34,325 shares of the oil and gas company’s stock after buying an additional 27,105 shares during the quarter. Chevron accounts for 3.1% of Investors Asset Management of Georgia Inc. GA ADV’s investment portfolio, making the stock its 4th largest holding. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Chevron were worth $5,688,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Picton Mahoney Asset Management bought a new stake in Chevron in the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its position in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. DHJJ Financial Advisors Ltd. bought a new stake in Chevron in the third quarter valued at approximately $35,000. Worth Asset Management LLC bought a new stake in Chevron in the first quarter valued at approximately $36,000. Finally, Legacy Financial Group LLC bought a new stake in Chevron in the third quarter valued at approximately $43,000. 68.87% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of Chevron stock traded up $1.04 on Monday, hitting $152.08. 6,707,649 shares of the company’s stock were exchanged, compared to its average volume of 9,015,317. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25. The company has a 50-day simple moving average of $147.87 and a 200-day simple moving average of $154.47. The stock has a market capitalization of $287.09 billion, a PE ratio of 13.30, a PEG ratio of 0.81 and a beta of 1.13. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $173.51.

Chevron (NYSE:CVXGet Free Report) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.09 EPS. As a group, equities analysts anticipate that Chevron Co. will post 13.03 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 16th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.29%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 53.17%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CVX shares. Truist Financial dropped their price objective on Chevron from $175.00 to $169.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. Raymond James dropped their price objective on Chevron from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, October 30th. UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Finally, Sanford C. Bernstein upgraded Chevron from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $184.00 to $182.00 in a report on Thursday, November 2nd. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.95.

Get Our Latest Report on CVX

Chevron Profile

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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