Empower Advisory Group LLC Grows Position in Chevron Co. (NYSE:CVX)

Empower Advisory Group LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 696,029 shares of the oil and gas company’s stock after purchasing an additional 22,014 shares during the period. Empower Advisory Group LLC’s holdings in Chevron were worth $102,504,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CVX. International Assets Investment Management LLC lifted its stake in Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after acquiring an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC lifted its stake in Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after acquiring an additional 3,876,731 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after acquiring an additional 3,048,819 shares during the period. Wulff Hansen & CO. lifted its stake in Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after acquiring an additional 1,168,137 shares during the period. Finally, Capital International Investors lifted its stake in Chevron by 5.9% during the 1st 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. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $155.30 on Wednesday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a market capitalization of $279.09 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 3.50 and a beta of 1.09. The company has a fifty day simple moving average of $147.97 and a 200-day simple moving average of $152.68. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the firm posted $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 10.59 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVX. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Scotiabank decreased their target price 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. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.93.

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.