Baugh & Associates LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Baugh & Associates LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 28.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,087 shares of the oil and gas company’s stock after buying an additional 7,275 shares during the quarter. Chevron comprises 2.4% of Baugh & Associates LLC’s holdings, making the stock its 21st largest position. Baugh & Associates LLC’s holdings in Chevron were worth $4,663,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Financial Enhancement Group LLC lifted its position in Chevron by 13.8% during the third quarter. Financial Enhancement Group LLC now owns 1,533 shares of the oil and gas company’s stock worth $235,000 after buying an additional 186 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC purchased a new stake in Chevron in the third quarter valued at $902,000. Consilium Wealth Advisory LLC raised its position in Chevron by 4.6% in the third quarter. Consilium Wealth Advisory LLC now owns 5,349 shares of the oil and gas company’s stock valued at $788,000 after purchasing an additional 236 shares during the period. Concurrent Investment Advisors LLC raised its position in Chevron by 13.8% in the third quarter. Concurrent Investment Advisors LLC now owns 91,859 shares of the oil and gas company’s stock valued at $13,528,000 after purchasing an additional 11,151 shares during the period. Finally, Gordian Advisors LLC purchased a new stake in Chevron in the third quarter valued at $236,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Truist Financial lifted their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Up 2.8 %

CVX opened at $157.65 on Thursday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market capitalization of $288.33 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.43 and a beta of 1.09. 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 business has a fifty day moving average price of $147.43 and a 200 day moving average price of $152.90.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. Chevron’s dividend payout ratio is currently 71.65%.

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.