AAFMAA Wealth Management & Trust LLC Acquires 1,413 Shares of Chevron Co. (NYSE:CVX)

AAFMAA Wealth Management & Trust LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 12.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,922 shares of the oil and gas company’s stock after purchasing an additional 1,413 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Chevron were worth $1,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its stake in Chevron by 0.3% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 36,338 shares of the oil and gas company’s stock worth $5,351,000 after purchasing an additional 103 shares during the period. Firethorn Wealth Partners LLC boosted its position in shares of Chevron by 2.1% during the 3rd quarter. Firethorn Wealth Partners LLC now owns 4,120 shares of the oil and gas company’s stock valued at $607,000 after acquiring an additional 85 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Chevron by 6.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 162,083 shares of the oil and gas company’s stock valued at $23,870,000 after acquiring an additional 10,508 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its position in shares of Chevron by 1.9% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 21,121 shares of the oil and gas company’s stock valued at $3,110,000 after acquiring an additional 401 shares during the last quarter. Finally, Sumitomo Life Insurance Co. boosted its position in shares of Chevron by 2.5% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 27,652 shares of the oil and gas company’s stock valued at $4,072,000 after acquiring an additional 667 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX opened at $148.69 on Thursday. The stock’s 50-day moving average price is $145.82 and its 200 day moving average price is $153.78. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market cap of $274.03 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.38%. Chevron’s payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CVX shares. Truist Financial lowered their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. UBS Group increased their price target on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wolfe Research began coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Barclays reduced their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $176.81.

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.