Xcel Wealth Management LLC Buys 131 Shares of Chevron Co. (NYSE:CVX)

Xcel Wealth Management LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,048 shares of the oil and gas company’s stock after buying an additional 131 shares during the quarter. Xcel Wealth Management LLC’s holdings in Chevron were worth $596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its position in Chevron by 15.2% during the third quarter. Sequoia Financial Advisors LLC now owns 121,118 shares of the oil and gas company’s stock valued at $17,837,000 after buying an additional 15,981 shares during the period. Harbor Advisory Corp MA raised its position in shares of Chevron by 109.3% in the 3rd quarter. Harbor Advisory Corp MA now owns 21,568 shares of the oil and gas company’s stock worth $3,176,000 after purchasing an additional 11,261 shares during the last quarter. Sky Investment Group LLC raised its position in shares of Chevron by 1.6% in the 3rd quarter. Sky Investment Group LLC now owns 56,078 shares of the oil and gas company’s stock worth $8,259,000 after purchasing an additional 893 shares during the last quarter. RFP Financial Group LLC raised its position in shares of Chevron by 39.7% in the 3rd quarter. RFP Financial Group LLC now owns 9,042 shares of the oil and gas company’s stock worth $1,332,000 after purchasing an additional 2,571 shares during the last quarter. Finally, Home Federal Bank of Tennessee raised its position in shares of Chevron by 2.2% in the 3rd quarter. Home Federal Bank of Tennessee now owns 13,105 shares of the oil and gas company’s stock worth $1,930,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.0 %

Shares of NYSE:CVX opened at $150.92 on Wednesday. The stock has a 50 day moving average of $146.32 and a 200 day moving average of $153.47. The company has a market cap of $278.14 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. 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 Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.08 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of several recent analyst reports. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group lifted their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays decreased their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron 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.