Chevron Co. (NYSE:CVX) is Commonwealth Retirement Investments LLC’s 9th Largest Position

Commonwealth Retirement Investments LLC lifted its position in Chevron Co. (NYSE:CVX) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,866 shares of the oil and gas company’s stock after buying an additional 2,227 shares during the period. Chevron makes up about 3.0% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 9th biggest position. Commonwealth Retirement Investments LLC’s holdings in Chevron were worth $7,196,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter worth $29,000. Anfield Capital Management LLC lifted its position 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 buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Livelsberger Financial Advisory bought a new stake in Chevron during the 3rd quarter worth approximately $47,000. Finally, Krane Funds Advisors LLC purchased a new position in Chevron during the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.1 %

Shares of Chevron stock traded down $0.17 during trading on Tuesday, reaching $156.33. The company’s stock had a trading volume of 1,032,837 shares, compared to its average volume of 7,633,636. The company has a 50-day simple moving average of $147.97 and a two-hundred day simple moving average of $152.68. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a market cap of $285.91 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 3.51 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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 13.07%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Co. will post 10.59 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed 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 yield of 4.17%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVX. UBS Group upped their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Wells Fargo & Company dropped their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Finally, Mizuho lowered 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.