DeDora Capital Inc. Has $2.31 Million Holdings in Chevron Co. (NYSE:CVX)

DeDora Capital Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,706 shares of the oil and gas company’s stock after purchasing an additional 256 shares during the period. DeDora Capital Inc.’s holdings in Chevron were worth $2,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Sweeney & Michel LLC boosted its position in Chevron by 28.5% during the third quarter. Sweeney & Michel LLC now owns 4,508 shares of the oil and gas company’s stock worth $680,000 after purchasing an additional 1,001 shares during the period. Calton & Associates Inc. boosted its position in shares of Chevron by 67.9% in the third quarter. Calton & Associates Inc. now owns 13,359 shares of the oil and gas company’s stock valued at $1,967,000 after acquiring an additional 5,403 shares during the period. Maple Capital Management Inc. boosted its position in shares of Chevron by 7.1% in the third quarter. Maple Capital Management Inc. now owns 154,316 shares of the oil and gas company’s stock valued at $22,726,000 after acquiring an additional 10,205 shares during the period. Krane Funds Advisors LLC bought a new stake in shares of Chevron in the third quarter valued at about $320,000. Finally, Winch Advisory Services LLC lifted its position in Chevron by 6.4% during the third quarter. Winch Advisory Services LLC now owns 5,588 shares of the oil and gas company’s stock worth $823,000 after purchasing an additional 337 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Mizuho reduced 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. Barclays dropped their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, UBS Group raised their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

Shares of CVX traded up $0.12 during trading hours on Tuesday, hitting $151.00. The company’s stock had a trading volume of 335,926 shares, compared to its average volume of 7,657,802. The business has a 50 day simple moving average of $146.19 and a two-hundred day simple moving average of $153.55. The company has a market cap of $278.29 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.73 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 debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last released its quarterly 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the firm earned $3.08 EPS. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 10.95 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s payout ratio is 59.98%.

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.