Pure Portfolios Holdings LLC Acquires New Shares in Chevron Co. (NYSE:CVX)

Pure Portfolios Holdings LLC acquired a new position in shares of Chevron Co. (NYSE:CVX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,627 shares of the oil and gas company’s stock, valued at approximately $534,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC lifted its holdings in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its stake 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 worth $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth approximately $47,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Chevron in the first quarter valued at approximately $55,000. Finally, Richardson Capital Management LLC acquired a new position in shares of Chevron in the first quarter valued at approximately $58,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

NYSE CVX opened at $150.75 on Friday. The firm’s fifty day moving average price is $146.07 and its two-hundred day moving average price is $153.66. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The firm has a market capitalization of $277.83 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued 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). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $3.08 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 11.06 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. Chevron’s dividend payout ratio is currently 59.98%.

Analysts Set New Price Targets

A number of brokerages recently commented on CVX. Barclays dropped their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Bank of America began coverage on Chevron in a research note on Thursday. They issued a “buy” rating and a $168.00 price target on the stock. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company dropped their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.