Secure Asset Management LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Secure Asset Management LLC grew its holdings in Chevron Co. (NYSE:CVX) by 21.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,278 shares of the oil and gas company’s stock after acquiring an additional 2,527 shares during the period. Secure Asset Management LLC’s holdings in Chevron were worth $2,103,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Anfield Capital Management LLC boosted its holdings in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its position in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron during the first quarter worth $55,000. Richardson Capital Management LLC acquired a new position in Chevron during the first quarter worth $58,000. Finally, MFA Wealth Advisors LLC acquired a new position in Chevron during the second quarter worth $59,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 1.7 %

Shares of Chevron stock opened at $151.19 on Friday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a 50 day moving average of $145.96 and a 200 day moving average of $153.76. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $276.51 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last issued 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 64.55%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Mizuho reduced 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. Barclays reduced their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $173.07.

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.