Archer Investment Corp Raises Position in Chevron Co. (NYSE:CVX)

Archer Investment Corp boosted its stake in Chevron Co. (NYSE:CVX) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,449 shares of the oil and gas company’s stock after buying an additional 369 shares during the quarter. Archer Investment Corp’s holdings in Chevron were worth $1,686,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valley Wealth Managers Inc. increased its holdings in shares of Chevron by 7.3% during the 3rd quarter. Valley Wealth Managers Inc. now owns 140,987 shares of the oil and gas company’s stock worth $20,763,000 after buying an additional 9,650 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Chevron by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 61,065 shares of the oil and gas company’s stock worth $8,993,000 after buying an additional 1,115 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Chevron by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 654,701 shares of the oil and gas company’s stock worth $96,418,000 after buying an additional 32,592 shares during the last quarter. Vectors Research Management LLC increased its holdings in shares of Chevron by 0.7% during the 3rd quarter. Vectors Research Management LLC now owns 18,870 shares of the oil and gas company’s stock worth $2,796,000 after buying an additional 135 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC increased its holdings in shares of Chevron by 13.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 389,379 shares of the oil and gas company’s stock worth $57,344,000 after buying an additional 47,652 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVX shares. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Mizuho decreased their price target 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. Truist Financial raised their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Barclays lifted their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Performance

NYSE CVX traded up $0.24 during trading on Friday, reaching $162.04. The company’s stock had a trading volume of 1,108,043 shares, compared to its average volume of 7,642,176. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $291.20 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 3.57 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The business’s fifty day moving average price is $148.93 and its 200-day moving average price is $152.71.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.05 earnings per share. As a group, analysts anticipate that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.02%. Chevron’s dividend payout ratio (DPR) is 71.65%.

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.