NTV Asset Management LLC Raises Holdings in Chevron Co. (NYSE:CVX)

NTV Asset Management LLC increased its position in Chevron Co. (NYSE:CVX) by 8.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,218 shares of the oil and gas company’s stock after buying an additional 2,005 shares during the period. NTV Asset Management LLC’s holdings in Chevron were worth $2,558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Amundi purchased a new position in Chevron in the second quarter valued at about $804,280,000. Vanguard Group Inc. raised its position in Chevron by 3.5% in the second quarter. Vanguard Group Inc. now owns 161,501,973 shares of the oil and gas company’s stock valued at $16,915,716,000 after purchasing an additional 5,427,422 shares during the period. BlackRock Inc. raised its position in Chevron by 3.3% in the second quarter. BlackRock Inc. now owns 136,355,706 shares of the oil and gas company’s stock valued at $14,281,898,000 after purchasing an additional 4,339,477 shares during the period. Liberty Wealth Management LLC raised its position in Chevron by 10,559.1% in the second quarter. Liberty Wealth Management LLC now owns 3,513,656 shares of the oil and gas company’s stock valued at $33,546,000 after purchasing an additional 3,480,692 shares during the period. Finally, State Street Corp raised its position in Chevron by 1.3% in the second quarter. State Street Corp now owns 139,640,367 shares of the oil and gas company’s stock valued at $14,625,932,000 after purchasing an additional 1,844,030 shares during the period. 64.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of CVX traded down $0.16 during mid-day trading on Thursday, reaching $127.17. 136,458 shares of the company’s stock traded hands, compared to its average volume of 10,803,046. The business’s 50-day moving average price is $117.06 and its 200-day moving average price is $107.65. The stock has a market capitalization of $245.14 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 2.89 and a beta of 1.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.03 and a current ratio of 1.28. Chevron Co. has a 12 month low of $84.57 and a 12 month high of $128.43.

Chevron (NYSE:CVX) last announced its earnings results on Thursday, October 28th. The oil and gas company reported $2.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.75. Chevron had a return on equity of 7.95% and a net margin of 7.10%. The firm had revenue of $44.71 billion for the quarter, compared to analysts’ expectations of $40.89 billion. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm’s quarterly revenue was up 82.9% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 8.42 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Thursday, November 18th were issued a $1.34 dividend. The ex-dividend date was Wednesday, November 17th. This represents a $5.36 annualized dividend and a dividend yield of 4.21%. Chevron’s dividend payout ratio is currently 103.47%.

In other Chevron news, EVP James William Johnson sold 17,000 shares of Chevron stock in a transaction that occurred on Friday, January 7th. The shares were sold at an average price of $125.28, for a total transaction of $2,129,760.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Colin E. Parfitt sold 15,000 shares of the business’s stock in a transaction on Friday, October 29th. The shares were sold at an average price of $115.01, for a total transaction of $1,725,150.00. The disclosure for this sale can be found here. Insiders sold 435,801 shares of company stock worth $50,435,077 in the last ninety days. 0.29% of the stock is owned by corporate insiders.

Several research firms have commented on CVX. Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $130.00 to $145.00 in a research report on Wednesday, November 24th. Truist raised their target price on Chevron from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 7th. JPMorgan Chase & Co. downgraded Chevron from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $128.00 to $111.00 in a research note on Wednesday, September 15th. Truist Securities raised their target price on Chevron from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 7th. Finally, UBS Group upgraded Chevron from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Monday, November 15th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $124.24.

About Chevron

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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