Concord Asset Management LLC VA Raises Holdings in Chevron Co. (NYSE:CVX)

Concord Asset Management LLC VA increased its position in shares of Chevron Co. (NYSE:CVX) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,279 shares of the oil and gas company’s stock after buying an additional 1,871 shares during the period. Concord Asset Management LLC VA’s holdings in Chevron were worth $3,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Marietta Wealth Management LLC boosted its position in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after acquiring an additional 3,965 shares in the last quarter. Leo Wealth LLC grew its stake in Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after purchasing an additional 1,354 shares during the last quarter. RPG Investment Advisory LLC grew its stake in Chevron by 3.4% in the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after purchasing an additional 3,933 shares during the last quarter. Garner Asset Management Corp raised its holdings in Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after purchasing an additional 2,530 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its position in shares of Chevron by 3.2% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock valued at $16,930,000 after buying an additional 3,561 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.2 %

Shares of NYSE:CVX opened at $161.42 on Friday. The business has a 50-day moving average price of $149.39 and a 200-day moving average price of $152.62. The stock has a market cap of $290.09 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 3.63 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. 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 (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 business 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 business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.05 EPS. Equities analysts predict that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s payout ratio is 71.65%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CVX shares. Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. UBS Group lifted their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Truist Financial upped their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Finally, Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Four 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 Company 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.