Comprehensive Financial Consultants Institutional Inc. Boosts Stock Position in Chevron Co. (NYSE:CVX)

Comprehensive Financial Consultants Institutional Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,716 shares of the oil and gas company’s stock after purchasing an additional 185 shares during the period. Comprehensive Financial Consultants Institutional Inc.’s holdings in Chevron were worth $1,578,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Montz Harcus Wealth Management LLC raised its holdings in shares of Chevron by 2.2% during the second 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 raised its holdings in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its position in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after purchasing an additional 67 shares during the period. S.A. Mason LLC boosted its stake in shares of Chevron by 0.7% during the 3rd 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 in the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its position 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 buying an additional 68 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.6 %

NYSE:CVX opened at $156.73 on Friday. 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 firm has a market cap of $286.65 billion, a P/E ratio of 17.22, a P/E/G ratio of 3.53 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a 50-day simple moving average of $147.43 and a two-hundred day simple moving average of $152.90.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm earned $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Analysts predict that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVX. Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Scotiabank dropped their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.93.

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.