Peterson Financial Group Inc. Purchases New Stake in Chevron Co. (NYSE:CVX)

Peterson Financial Group Inc. bought a new position in shares of Chevron Co. (NYSE:CVX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 971 shares of the oil and gas company’s stock, valued at approximately $143,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its position in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the period. Capital World Investors boosted its position in Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares during the period. Legal & General Group Plc boosted its position in Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after purchasing an additional 629,644 shares during the period. Capital International Investors boosted its position in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after purchasing an additional 126,889 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CVX. UBS Group increased their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Finally, Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Trading Down 0.2 %

Shares of CVX opened at $161.42 on Friday. The firm’s 50 day simple moving average is $149.39 and its 200 day simple moving average is $152.62. The company has a market capitalization of $290.09 billion, a P/E ratio of 17.74, a P/E/G ratio of 3.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $3.05 earnings per share. Sell-side analysts forecast that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.