Chevron Co. (NYSE:CVX) Shares Bought by Eagle Capital Management LLC

Eagle Capital Management LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,358 shares of the oil and gas company’s stock after purchasing an additional 143 shares during the period. Chevron makes up approximately 2.1% of Eagle Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Eagle Capital Management LLC’s holdings in Chevron were worth $5,060,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CVX. Sterling Financial Group Inc. increased its holdings in shares of Chevron by 4.4% during the first quarter. Sterling Financial Group Inc. now owns 4,561 shares of the oil and gas company’s stock valued at $719,000 after purchasing an additional 192 shares during the period. Daymark Wealth Partners LLC grew its holdings in Chevron by 3.2% during the first quarter. Daymark Wealth Partners LLC now owns 188,146 shares of the oil and gas company’s stock worth $29,678,000 after acquiring an additional 5,815 shares during the period. BTC Capital Management Inc. acquired a new stake in Chevron in the 1st quarter valued at about $11,079,000. Private Capital Management LLC lifted its holdings in Chevron by 9.6% in the 4th quarter. Private Capital Management LLC now owns 17,999 shares of the oil and gas company’s stock valued at $2,685,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Midwest Financial Group LLC boosted its position in shares of Chevron by 5.4% during the 1st quarter. Midwest Financial Group LLC now owns 3,196 shares of the oil and gas company’s stock valued at $504,000 after purchasing an additional 165 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.3 %

CVX stock traded down $0.45 during midday trading on Friday, reaching $150.75. The company had a trading volume of 5,208,202 shares, compared to its average volume of 7,706,832. The company has a 50 day moving average of $146.07 and a two-hundred day moving average of $153.66. The company has a market capitalization of $277.83 billion, a P/E ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year 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.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the business posted $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. 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 4.33%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Bank of America initiated coverage on Chevron in a report on Thursday. They issued a “buy” rating and a $168.00 target price on the stock. Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Mizuho dropped 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. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.