Tyche Wealth Partners LLC Buys 99 Shares of Chevron Co. (NYSE:CVX)

Tyche Wealth Partners LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,791 shares of the oil and gas company’s stock after purchasing an additional 99 shares during the period. Chevron comprises 1.1% of Tyche Wealth Partners LLC’s portfolio, making the stock its 20th largest holding. Tyche Wealth Partners LLC’s holdings in Chevron were worth $4,976,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Eagle Capital Management LLC boosted its position in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the last quarter. Marietta Wealth Management LLC boosted its holdings in shares of Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after buying an additional 3,965 shares during the last quarter. Leo Wealth LLC grew its position in Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares during the period. KCM Investment Advisors LLC increased its holdings in Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares during the last quarter. Finally, Hosking Partners LLP purchased a new stake in shares of Chevron in the 1st quarter worth $4,924,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.3 %

Shares of CVX opened at $148.55 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $271.69 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The business’s 50 day simple moving average is $146.74 and its 200-day simple moving average is $153.08.

Chevron (NYSE:CVX) last released 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 business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.39%. Chevron’s dividend payout ratio is currently 64.55%.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. 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 research note on Wednesday, July 17th. Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Barclays reduced their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Finally, UBS Group increased their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

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.