Chevron Co. (NYSE:CVX) Shares Purchased by Violich Capital Management Inc.

Violich Capital Management Inc. lifted its stake in shares of Chevron Co. (NYSE:CVX) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,469 shares of the oil and gas company’s stock after acquiring an additional 700 shares during the period. Chevron accounts for about 1.5% of Violich Capital Management Inc.’s investment portfolio, making the stock its 17th largest position. Violich Capital Management Inc.’s holdings in Chevron were worth $11,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CVX. Massachusetts Financial Services Co. MA grew its stake in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after buying an additional 3,048,819 shares during the period. Wulff Hansen & CO. increased its position in Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after purchasing an additional 1,168,137 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Chevron during the 1st quarter worth approximately $156,482,000. Capital International Investors raised its holdings in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Federated Hermes Inc. lifted its position in Chevron by 38.6% during the second quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company’s stock valued at $382,448,000 after buying an additional 681,394 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 0.3 %

Shares of NYSE:CVX opened at $150.75 on Monday. The stock has a market capitalization of $277.83 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a 50 day moving average price of $146.07 and a 200 day moving average price of $153.62. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 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 firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the company posted $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.