Umpqua Bank Buys 373 Shares of Chevron Co. (NYSE:CVX)

Umpqua Bank lifted its stake in Chevron Co. (NYSE:CVX) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,200 shares of the oil and gas company’s stock after acquiring an additional 373 shares during the period. Chevron accounts for 1.1% of Umpqua Bank’s portfolio, making the stock its 22nd largest position. Umpqua Bank’s holdings in Chevron were worth $2,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CVX. Montz Harcus Wealth Management LLC raised its stake in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC increased its holdings in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares during the period. Cyndeo Wealth Partners LLC increased its holdings in shares of Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares during the period. S.A. Mason LLC increased its holdings in shares of Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares during the period. Finally, Jaffetilchin Investment Partners LLC increased its holdings in shares of Chevron by 1.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 5,777 shares of the oil and gas company’s stock valued at $904,000 after purchasing an additional 68 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 2.3 %

Shares of NYSE:CVX traded up $3.55 during midday trading on Wednesday, reaching $156.96. The company had a trading volume of 818,676 shares, compared to its average volume of 7,616,659. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a market cap of $287.07 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 3.43 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a fifty day simple moving average of $147.20 and a two-hundred day simple moving average of $152.86.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the company posted $3.05 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 10.65 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.15%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Truist Financial raised their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday. UBS Group raised their price target on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday. Wolfe Research began coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. 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. Finally, Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

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.