3Chopt Investment Partners LLC Buys 239 Shares of Chevron Co. (NYSE:CVX)

3Chopt Investment Partners LLC grew its stake in Chevron Co. (NYSE:CVX) by 2.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,570 shares of the oil and gas company’s stock after purchasing an additional 239 shares during the period. 3Chopt Investment Partners LLC’s holdings in Chevron were worth $1,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. American Capital Advisory LLC boosted its stake in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth about $30,000. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its position in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, Cooksen Wealth LLC purchased a new stake in Chevron in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.2 %

Chevron stock opened at $147.27 on Tuesday. The business has a fifty day moving average price of $146.43 and a 200-day moving average price of $154.25. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The stock has a market capitalization of $271.41 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 2.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.08 EPS. Equities research analysts forecast that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.43%. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVX shares. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, UBS Group dropped their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.00.

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.