11,270 Shares in Chevron Co. (NYSE:CVX) Acquired by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC acquired a new position in shares of Chevron Co. (NYSE:CVX) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 11,270 shares of the oil and gas company’s stock, valued at approximately $1,660,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. China Universal Asset Management Co. Ltd. acquired a new stake in Chevron during the 1st quarter worth $566,000. Empowered Funds LLC raised its stake in Chevron by 5.4% during the 1st quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock worth $67,670,000 after acquiring an additional 22,047 shares in the last quarter. M&G Plc acquired a new stake in Chevron during the 1st quarter worth $16,280,000. Intech Investment Management LLC raised its stake in Chevron by 1.7% during the 1st quarter. Intech Investment Management LLC now owns 75,666 shares of the oil and gas company’s stock worth $11,936,000 after acquiring an additional 1,239 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in Chevron by 27.9% during the 1st quarter. Westfield Capital Management Co. LP now owns 45,387 shares of the oil and gas company’s stock worth $7,159,000 after acquiring an additional 9,888 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE:CVX traded down $0.38 during midday trading on Friday, hitting $161.42. The stock had a trading volume of 9,022,753 shares, compared to its average volume of 7,677,757. The company has a market capitalization of $290.09 billion, a PE ratio of 17.74, a P/E/G ratio of 3.57 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 stock has a 50 day moving average price of $149.39 and a two-hundred day moving average price of $152.68. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the firm earned $3.05 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Barclays lifted their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Finally, Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

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.