Avidian Wealth Enterprises LLC Increases Stake in Chevron Co. (NYSE:CVX)

Avidian Wealth Enterprises LLC boosted its stake in Chevron Co. (NYSE:CVX) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,480 shares of the oil and gas company’s stock after buying an additional 785 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Chevron were worth $6,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC bought a new stake in Chevron during the third quarter worth about $29,000. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% in the 2nd 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 in the last quarter. Cyrus J. Lawrence LLC increased 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 valued at $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new position in Chevron during the 3rd quarter valued at approximately $47,000. Finally, Livelsberger Financial Advisory bought a new stake in Chevron in the third quarter worth $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.4 %

Shares of Chevron stock opened at $153.42 on Wednesday. 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 has a market capitalization of $280.59 billion, a PE ratio of 16.86, a P/E/G ratio of 3.43 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company’s fifty day simple moving average is $147.20 and its 200-day simple moving average is $152.86.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the company posted $3.05 earnings per share. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 10.65 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVX shares. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $174.93.

About Chevron

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.