MADDEN SECURITIES Corp Buys 1,352 Shares of Chevron Co. (NYSE:CVX)

by · The Cerbat Gem

MADDEN SECURITIES Corp boosted its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,067 shares of the oil and gas company’s stock after buying an additional 1,352 shares during the period. Chevron makes up about 2.1% of MADDEN SECURITIES Corp’s investment portfolio, making the stock its 12th largest holding. MADDEN SECURITIES Corp’s holdings in Chevron were worth $4,870,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CVX. American Capital Advisory LLC raised its position in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Anfield Capital Management LLC increased its stake 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 in the last quarter. Cyrus J. Lawrence LLC raised its holdings in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Cooksen Wealth LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $40,000. Finally, Vima LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.5 %

Shares of CVX opened at $151.42 on Friday. The business’s 50 day moving average is $145.46 and its 200 day moving average is $153.96. 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 $170.17. The company has a market capitalization of $276.94 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the firm posted $3.08 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Research analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 64.55%.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. UBS Group lifted their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $177.59.

Read Our Latest Report on Chevron

Chevron Company Profile

(Free Report)

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.

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