Patrick M Sweeney & Associates Inc. Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Patrick M Sweeney & Associates Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 12.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,426 shares of the oil and gas company’s stock after buying an additional 366 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in Chevron were worth $505,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Anfield Capital Management LLC boosted its position 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 valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% in 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 during the period. Krane Funds Advisors LLC purchased a new position in Chevron during the third quarter valued at $47,000. Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the third quarter worth about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Chevron during the 1st quarter valued at approximately $55,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $150.46 on Thursday. The company has a market cap of $277.29 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.73 and a beta of 1.09. The business has a fifty day simple moving average of $146.44 and a 200-day simple moving average of $153.45. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company posted $3.08 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

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.