San Luis Wealth Advisors LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

by · The Markets Daily

San Luis Wealth Advisors LLC raised its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,254 shares of the oil and gas company’s stock after purchasing an additional 320 shares during the period. San Luis Wealth Advisors LLC’s holdings in Chevron were worth $1,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Berkshire Hathaway Inc lifted its position in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 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 valued at $1,335,492,000 after buying an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after buying an additional 1,168,137 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Chevron in the 1st quarter worth $156,482,000. Finally, Confluence Investment Management LLC bought a new stake in shares of Chevron in the first quarter worth $123,681,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. Wells Fargo & Company lowered their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.59.

Read Our Latest Analysis on CVX

Chevron Stock Up 0.6 %

Shares of CVX opened at $150.59 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a 50 day moving average price of $145.41 and a 200 day moving average price of $153.99. The stock has a market capitalization of $275.42 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 2.70 and a beta of 1.09.

Chevron (NYSE:CVX – Get Free Report) last posted 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 analysts’ expectations of $48.68 billion. During the same quarter last year, the company earned $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts forecast that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s payout ratio is 64.55%.

Chevron 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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