Culbertson A N & Co. Inc. Has $8.48 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Culbertson A N & Co. Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 6.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,612 shares of the oil and gas company’s stock after purchasing an additional 3,458 shares during the quarter. Chevron makes up approximately 1.4% of Culbertson A N & Co. Inc.’s holdings, making the stock its 23rd biggest holding. Culbertson A N & Co. Inc.’s holdings in Chevron were worth $8,484,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC grew its holdings in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC lifted its position 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. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Chevron in the 1st quarter valued at about $55,000. Richardson Capital Management LLC acquired a new stake in Chevron in the 1st quarter valued at about $58,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Chevron in the second quarter worth about $59,000. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CVX shares. Mizuho lowered their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Truist Financial cut their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Finally, Barclays lowered their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $176.81.

Chevron Trading Up 0.6 %

NYSE CVX opened at $148.69 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock’s 50-day moving average is $145.82 and its 200-day moving average is $153.78. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The firm has a market cap of $274.03 billion, a P/E ratio of 13.68, a P/E/G ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the business posted $3.08 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Chevron Company 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.