SouthState Corp Has $14.16 Million Holdings in Chevron Co. (NYSE:CVX)

SouthState Corp boosted its holdings in Chevron Co. (NYSE:CVX) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,180 shares of the oil and gas company’s stock after buying an additional 3,398 shares during the quarter. SouthState Corp’s holdings in Chevron were worth $14,164,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Rational Advisors LLC acquired a new stake in Chevron in the third quarter valued at about $29,000. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its stake in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the third quarter valued at about $47,000. Finally, Krane Funds Advisors LLC acquired a new stake in shares of Chevron during the third quarter valued at about $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CVX shares. Truist Financial lifted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group lifted their price target on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Finally, Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. 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 MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Up 0.6 %

NYSE CVX opened at $160.78 on Tuesday. The company has a market cap of $288.94 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 3.63 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 business has a 50 day moving average price of $149.80 and a 200-day moving average price of $152.57. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.05 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.06%. Chevron’s dividend payout ratio is 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.