Trifecta Capital Advisors LLC Purchases 344 Shares of Chevron Co. (NYSE:CVX)

Trifecta Capital Advisors LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,581 shares of the oil and gas company’s stock after acquiring an additional 344 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Chevron were worth $3,915,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after buying an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. grew its stake in Chevron by 15,542.0% in the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of Chevron during the 1st quarter worth approximately $156,482,000. Capital International Investors raised its stake in shares of Chevron by 5.9% during 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 purchasing an additional 743,042 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Chevron by 38.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company’s stock valued at $382,448,000 after buying an additional 681,394 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading 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 stock has a market cap of $276.51 billion, a PE ratio of 14.97, a PEG ratio of 2.74 and a beta of 1.09. The firm has a 50-day moving average of $145.96 and a 200-day moving average of $153.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $3.08 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 11.06 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.31%. Chevron’s dividend payout ratio is currently 64.55%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. Bank of America initiated coverage on shares of Chevron in a report on Thursday. They set a “buy” rating and a $168.00 target price on the stock. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Barclays dropped their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price 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.