Symphony Financial Ltd. Co. Grows Stock Position in Chevron Co. (NYSE:CVX)

Symphony Financial Ltd. Co. boosted its holdings in Chevron Co. (NYSE:CVX) by 7.1% during the third quarter, HoldingsChannel reports. The fund owned 28,636 shares of the oil and gas company’s stock after buying an additional 1,902 shares during the period. Symphony Financial Ltd. Co.’s holdings in Chevron were worth $4,196,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC lifted its stake in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Chevron during the third quarter worth $47,000. Krane Funds Advisors LLC purchased a new stake in shares of Chevron during the third quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Chevron during the first quarter worth $55,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

CVX stock opened at $150.92 on Wednesday. The firm has a 50 day moving average of $146.32 and a 200-day moving average of $153.47. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. 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 company has a market cap of $278.14 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last posted 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 net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the business posted $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CVX shares. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Finally, Barclays decreased their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Chevron 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.