JFS Wealth Advisors LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

JFS Wealth Advisors LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 34.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 17,458 shares of the oil and gas company’s stock after acquiring an additional 4,512 shares during the period. JFS Wealth Advisors LLC’s holdings in Chevron were worth $2,571,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Diversify Wealth Management LLC raised its holdings in shares of Chevron by 12.5% in the third quarter. Diversify Wealth Management LLC now owns 20,164 shares of the oil and gas company’s stock worth $3,034,000 after buying an additional 2,241 shares during the last quarter. Pinnacle Associates Ltd. increased its position in shares of Chevron by 2.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 170,957 shares of the oil and gas company’s stock valued at $25,500,000 after acquiring an additional 3,390 shares during the period. Milestones Administradora de Recursos Ltda. raised its stake in Chevron by 71.0% in the 3rd quarter. Milestones Administradora de Recursos Ltda. now owns 47,610 shares of the oil and gas company’s stock worth $7,012,000 after acquiring an additional 19,760 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in Chevron in the 3rd quarter worth $82,000. Finally, GSB Wealth Management LLC lifted its position in Chevron by 8.2% during the 3rd quarter. GSB Wealth Management LLC now owns 20,115 shares of the oil and gas company’s stock worth $2,962,000 after acquiring an additional 1,517 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Chevron stock opened at $148.06 on Thursday. The stock has a market capitalization of $270.79 billion, a P/E ratio of 14.66, a P/E/G ratio of 3.29 and a beta of 1.09. The company’s fifty day moving average price is $146.79 and its 200 day moving average price is $153.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last announced its 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the business earned $3.08 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 10.86 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. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.40%. Chevron’s payout ratio is currently 64.55%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVX. Wells Fargo & Company reduced their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Barclays decreased their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. UBS Group increased their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.