Chevron Co. (NYSE:CVX) Shares Acquired by Horizon Wealth Management LLC

Horizon Wealth Management LLC increased its stake in Chevron Co. (NYSE:CVX) by 1,580.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,732 shares of the oil and gas company’s stock after buying an additional 40,189 shares during the quarter. Chevron comprises 1.3% of Horizon Wealth Management LLC’s portfolio, making the stock its 16th largest position. Horizon Wealth Management LLC’s holdings in Chevron were worth $6,293,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% during the second 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 during the period. Cyrus J. Lawrence LLC grew its stake in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron during the first quarter valued at about $55,000. Richardson Capital Management LLC purchased a new position in Chevron in the first quarter valued at about $58,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Chevron during the 2nd quarter valued at approximately $59,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $148.69 on Thursday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market cap of $274.03 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The company’s 50-day moving average price is $145.82 and its two-hundred day moving average price is $153.78.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.08 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 11.09 EPS for the current fiscal 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 given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.38%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Barclays cut their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. UBS Group upped their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $176.81.

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.