Nexus Investment Management ULC Acquires 550 Shares of Chevron Co. (NYSE:CVX)

Nexus Investment Management ULC increased its position in Chevron Co. (NYSE:CVX) by 9.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,650 shares of the oil and gas company’s stock after buying an additional 550 shares during the quarter. Nexus Investment Management ULC’s holdings in Chevron were worth $979,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Pacifica Partners Inc. lifted its position in Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC increased its stake in Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC increased its stake in Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC increased its stake in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares during the period. Finally, Ellenbecker Investment Group increased its stake in Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after purchasing an additional 65 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CVX shares. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial decreased their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. UBS Group boosted their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $176.81.

Chevron Trading Down 2.7 %

Chevron stock opened at $147.73 on Wednesday. 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’s fifty day simple moving average is $145.70 and its two-hundred day simple moving average is $153.82. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The company has a market capitalization of $272.26 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.08 earnings per share. As a group, equities analysts predict that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is currently 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.