V Square Quantitative Management LLC Purchases 2,941 Shares of Chevron Co. (NYSE:CVX)

V Square Quantitative Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 48.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,977 shares of the oil and gas company’s stock after purchasing an additional 2,941 shares during the quarter. V Square Quantitative Management LLC’s holdings in Chevron were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Anfield Capital Management LLC increased its holdings in 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 buying an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its position in shares of Chevron by 66.7% during the 2nd 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. Krane Funds Advisors LLC bought a new stake in Chevron in the third quarter valued at about $47,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron in the first quarter worth about $55,000. Finally, Richardson Capital Management LLC bought a new position in Chevron during the first quarter worth about $58,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of CVX traded down $0.69 during mid-day trading on Friday, hitting $150.51. 697,651 shares of the company traded hands, compared to its average volume of 7,684,512. 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 business has a 50-day moving average of $145.96 and a 200 day moving average of $153.76. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The stock has a market capitalization of $275.27 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 2.74 and a beta of 1.09.

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 the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the business posted $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. Chevron’s payout ratio is presently 64.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group upped their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Bank of America started coverage on Chevron in a research report on Thursday. They issued a “buy” rating and a $168.00 price target on the stock. Wells Fargo & Company cut their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Barclays lowered their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $173.07.

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.