Goldstone Financial Group LLC Invests $605,000 in Chevron Co. (NYSE:CVX)

Goldstone Financial Group LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the third quarter, HoldingsChannel reports. The institutional investor acquired 4,107 shares of the oil and gas company’s stock, valued at approximately $605,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Eagle Capital Management LLC raised its position in shares of Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the last quarter. Marietta Wealth Management LLC lifted its stake in shares of Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after buying an additional 3,965 shares in the last quarter. Leo Wealth LLC lifted its stake in shares of Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares in the last quarter. KCM Investment Advisors LLC grew its holdings in shares of Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares during the last quarter. Finally, Hosking Partners LLP bought a new stake in shares of Chevron during the first quarter valued at approximately $4,924,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

NYSE CVX opened at $148.06 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market capitalization of $270.79 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 3.29 and a beta of 1.09. The company has a fifty day moving average of $146.79 and a two-hundred day moving average of $153.04.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm 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 business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.08 earnings per share. On average, analysts predict that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 yield of 4.40%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 64.55%.

Analyst Ratings Changes

Several brokerages have commented on CVX. UBS Group increased 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 dropped their price target 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 shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Finally, Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus 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.