Callahan Advisors LLC Boosts Holdings in Chevron Co. (NYSE:CVX)

Callahan Advisors LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,628 shares of the oil and gas company’s stock after buying an additional 1,744 shares during the period. Chevron comprises about 1.5% of Callahan Advisors LLC’s holdings, making the stock its 22nd biggest position. Callahan Advisors LLC’s holdings in Chevron were worth $15,850,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Marietta Wealth Management LLC increased its holdings in Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after buying an additional 3,965 shares during the last quarter. Leo Wealth LLC increased its holdings in Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares during the last quarter. KCM Investment Advisors LLC increased its holdings in Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after buying an additional 8,168 shares during the last quarter. Garner Asset Management Corp increased its holdings in Chevron by 14.5% during 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 buying an additional 2,530 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. boosted its position in 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 worth $16,930,000 after purchasing an additional 3,561 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Royal Bank of Canada increased their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron Price Performance

CVX stock opened at $153.42 on Wednesday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a market capitalization of $280.59 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 3.43 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 firm has a 50 day moving average of $147.20 and a 200-day moving average of $152.86.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the business posted $3.05 earnings per share. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Co. will post 10.65 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.25%. Chevron’s payout ratio is presently 71.65%.

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.