Field & Main Bank Boosts Stock Position in Chevron Co. (NYSE:CVX)

Field & Main Bank increased its holdings in Chevron Co. (NYSE:CVX) by 1.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 18,871 shares of the oil and gas company’s stock after purchasing an additional 195 shares during the quarter. Field & Main Bank’s holdings in Chevron were worth $2,779,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Chevron in the first quarter valued at $566,000. Duality Advisers LP acquired a new position in shares of Chevron during the first quarter worth about $1,029,000. Empowered Funds LLC raised its stake in shares of Chevron by 5.4% during the 1st quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock worth $67,670,000 after buying an additional 22,047 shares in the last quarter. Hilltop National Bank acquired a new stake in Chevron in the first quarter valued at $1,200,000. Finally, Brooklyn Investment Group boosted its holdings in Chevron by 35.5% during the first quarter. Brooklyn Investment Group now owns 7,053 shares of the oil and gas company’s stock worth $1,122,000 after buying an additional 1,846 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX opened at $156.93 on Friday. The company’s fifty day moving average is $147.80 and its 200-day moving average is $152.89. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a market cap of $287.01 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 3.53 and a beta of 1.09. 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 (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 EPS. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 10.59 EPS for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada upped their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Truist Financial upped their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, UBS Group increased their target price on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Company 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.