Simmons Bank Grows Position in Chevron Co. (NYSE:CVX)

Simmons Bank raised its position in shares of Chevron Co. (NYSE:CVX) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,627 shares of the oil and gas company’s stock after acquiring an additional 600 shares during the period. Chevron makes up approximately 0.9% of Simmons Bank’s holdings, making the stock its 23rd biggest holding. Simmons Bank’s holdings in Chevron were worth $12,610,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Rational Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in shares of 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 during the last quarter. Livelsberger Financial Advisory bought a new position in Chevron during the 3rd quarter valued at about $47,000. Finally, Krane Funds Advisors LLC bought a new stake in Chevron in the third quarter worth about $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX stock opened at $155.30 on Wednesday. The firm has a 50-day simple moving average of $148.18 and a two-hundred day simple moving average of $152.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The firm has a market cap of $279.09 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 3.50 and a beta of 1.09.

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

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. UBS Group lifted their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.