Stableford Capital II LLC Acquires 564 Shares of Chevron Co. (NYSE:CVX)

Stableford Capital II LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,486 shares of the oil and gas company’s stock after buying an additional 564 shares during the quarter. Stableford Capital II LLC’s holdings in Chevron were worth $1,134,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after purchasing an additional 501,969 shares during the period. Capital World Investors raised its position in shares of Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after buying an additional 495,879 shares during the last quarter. Legal & General Group Plc grew its position in Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares in the last quarter. Capital International Investors increased its stake in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Chevron by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays reduced their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Truist Financial lowered their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.81.

Chevron Stock Up 0.6 %

Shares of CVX opened at $148.55 on Wednesday. The company has a market capitalization of $273.77 billion, a P/E ratio of 13.59, a PEG ratio of 2.72 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The business’s 50 day simple moving average is $145.70 and its 200-day simple moving average is $153.82. 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 issued its quarterly earnings data 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 business had revenue of $51.18 billion during 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 quarter in the previous year, the firm posted $3.08 EPS. As a group, sell-side analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed 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 4.39%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

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.