Sweeney & Michel LLC Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Sweeney & Michel LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 28.5% in the third quarter, HoldingsChannel.com reports. The fund owned 4,508 shares of the oil and gas company’s stock after buying an additional 1,001 shares during the quarter. Sweeney & Michel LLC’s holdings in Chevron were worth $680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Anfield Capital Management LLC raised its holdings in shares of Chevron by 118.0% in 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 during the period. Cyrus J. Lawrence LLC boosted its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter worth $47,000. Livelsberger Financial Advisory acquired a new stake in Chevron during the 3rd quarter worth about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in Chevron during the 1st quarter worth about $55,000. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Chevron Stock Up 0.1 %

Chevron stock traded up $0.12 during trading on Tuesday, reaching $151.00. 335,926 shares of the company’s stock were exchanged, compared to its average volume of 7,657,802. The company’s 50-day moving average is $146.19 and its two-hundred day moving average is $153.55. 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 Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a market cap of $278.29 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.08 earnings per share. On average, analysts predict that Chevron Co. will post 10.95 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s dividend payout ratio (DPR) is presently 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.