Schrum Private Wealth Management LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Schrum Private Wealth Management LLC boosted its stake in Chevron Co. (NYSE:CVX) by 80.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,334 shares of the oil and gas company’s stock after purchasing an additional 5,958 shares during the quarter. Chevron comprises approximately 1.0% of Schrum Private Wealth Management LLC’s holdings, making the stock its 23rd largest holding. Schrum Private Wealth Management LLC’s holdings in Chevron were worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after acquiring an additional 501,969 shares during the last quarter. Capital World Investors raised its stake in Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Legal & General Group Plc lifted its position in Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after purchasing an additional 629,644 shares during the last quarter. Capital International Investors grew its stake in shares of Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Chevron by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after buying an additional 126,889 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.8 %

Chevron stock traded up $1.20 during midday trading on Wednesday, hitting $156.49. 1,875,961 shares of the company’s stock were exchanged, compared to its average volume of 7,629,072. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $281.23 billion, a PE ratio of 17.20, a P/E/G ratio of 3.49 and a beta of 1.09. The firm has a 50-day moving average of $148.18 and a two-hundred day moving average of $152.61. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $3.05 earnings per share. As a group, analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared 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. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CVX shares. Wells Fargo & Company reduced their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Royal Bank of Canada boosted their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Finally, Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.93.

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.