Grimes & Company Inc. Has $8.78 Million Holdings in Chevron Co. (NYSE:CVX)

Grimes & Company Inc. lifted its stake in shares of Chevron Co. (NYSE:CVX) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,593 shares of the oil and gas company’s stock after buying an additional 2,260 shares during the quarter. Grimes & Company Inc.’s holdings in Chevron were worth $8,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Chevron by 19,404.1% during the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the period. Massachusetts Financial Services Co. MA raised its stake in 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 worth $1,335,492,000 after buying an additional 3,048,819 shares during the period. Wulff Hansen & CO. boosted its holdings in Chevron by 15,542.0% in the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after acquiring an additional 1,168,137 shares in the last quarter. Capital International Investors grew its stake 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 acquiring an additional 743,042 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of 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 acquiring an additional 681,394 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.0 %

CVX stock opened at $150.46 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock has a market cap of $275.18 billion, a P/E ratio of 14.90, a P/E/G ratio of 3.30 and a beta of 1.09. The stock’s fifty day simple moving average is $146.44 and its two-hundred day simple moving average is $153.45. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 EPS. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts expect that Chevron Co. will post 10.86 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. Chevron’s payout ratio is currently 64.55%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVX shares. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Truist Financial reduced their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

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.