Financial Enhancement Group LLC Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Financial Enhancement Group LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 13.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,533 shares of the oil and gas company’s stock after purchasing an additional 186 shares during the quarter. Financial Enhancement Group LLC’s holdings in Chevron were worth $235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Montz Harcus Wealth Management LLC lifted its position in Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC lifted its holdings in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares in the last quarter. Cyndeo Wealth Partners LLC raised its position in shares of Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after buying an additional 67 shares in the last quarter. S.A. Mason LLC lifted its position in Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after purchasing an additional 67 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its stake in Chevron by 1.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 5,777 shares of the oil and gas company’s stock worth $904,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday. Finally, Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Up 2.8 %

CVX opened at $157.65 on Thursday. The firm has a market capitalization of $288.33 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.43 and a beta of 1.09. The business has a 50 day simple moving average of $147.43 and a two-hundred day simple moving average of $152.90. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.05 EPS. Analysts predict that Chevron Co. will post 10.65 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. Chevron’s payout ratio is presently 71.65%.

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.