Legacy Financial Strategies LLC Takes Position in Chevron Co. (NYSE:CVX)

Legacy Financial Strategies LLC purchased a new stake in Chevron Co. (NYSE:CVX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,806 shares of the oil and gas company’s stock, valued at approximately $266,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Anfield Capital Management LLC lifted its holdings in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its stake in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. Krane Funds Advisors LLC acquired a new position in Chevron during the 3rd quarter worth approximately $47,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron during the 1st quarter worth approximately $55,000. Finally, Richardson Capital Management LLC acquired a new position in Chevron during the 1st quarter worth approximately $58,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Bank of America started coverage on Chevron in a report on Thursday. They set a “buy” rating and a $168.00 price objective for the company. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Truist Financial decreased their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Performance

Shares of CVX stock traded down $0.45 during trading on Friday, hitting $150.75. The company’s stock had a trading volume of 5,208,202 shares, compared to its average volume of 7,706,832. The company has a market cap of $277.83 billion, a PE ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. 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 fifty day moving average of $146.07 and a 200-day moving average of $153.71. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 for the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the company posted $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 11.06 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.