Peak Asset Management LLC Has $4.73 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Peak Asset Management LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,124 shares of the oil and gas company’s stock after acquiring an additional 845 shares during the period. Peak Asset Management LLC’s holdings in Chevron were worth $4,731,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rational Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter worth approximately $29,000. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% in 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 grew 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 purchasing an additional 100 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in Chevron in the third quarter valued at about $47,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Chevron in the third quarter valued at approximately $47,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial raised their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. UBS Group lifted their price target on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada boosted their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Performance

CVX opened at $158.69 on Thursday. 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 Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business has a 50 day moving average of $148.18 and a 200-day moving average of $152.61. The stock has a market cap of $285.18 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 3.49 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.05 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.11%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

About Chevron

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.