Talbot Financial LLC Has $16.22 Million Position in Chevron Co. (NYSE:CVX)

Talbot Financial LLC lifted its stake in Chevron Co. (NYSE:CVX) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,120 shares of the oil and gas company’s stock after acquiring an additional 5,297 shares during the quarter. Chevron makes up 2.0% of Talbot Financial LLC’s portfolio, making the stock its 14th biggest holding. Talbot Financial LLC’s holdings in Chevron were worth $16,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Brookstone Capital Management grew its position in Chevron by 10.4% in the third quarter. Brookstone Capital Management now owns 101,109 shares of the oil and gas company’s stock worth $14,890,000 after acquiring an additional 9,509 shares in the last quarter. Trust Co of Kansas lifted its stake in shares of Chevron by 8.0% in the 3rd quarter. Trust Co of Kansas now owns 6,046 shares of the oil and gas company’s stock valued at $890,000 after purchasing an additional 450 shares during the last quarter. Leibman Financial Services Inc. boosted its holdings in Chevron by 4.9% in the third quarter. Leibman Financial Services Inc. now owns 18,960 shares of the oil and gas company’s stock worth $2,792,000 after purchasing an additional 887 shares in the last quarter. Reliant Investment Management LLC boosted its stake in shares of Chevron by 5.0% during the 3rd quarter. Reliant Investment Management LLC now owns 1,648 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 79 shares in the last quarter. Finally, O Keefe Stevens Advisory Inc. grew its holdings in Chevron by 7.4% during the third quarter. O Keefe Stevens Advisory Inc. now owns 1,537 shares of the oil and gas company’s stock valued at $226,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 1.6 %

Shares of CVX opened at $148.76 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market cap of $274.16 billion, a PE ratio of 13.69, a PEG ratio of 2.72 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The stock has a 50 day simple moving average of $145.88 and a 200-day simple moving average of $154.09.

Chevron (NYSE:CVX) last issued 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the business posted $3.08 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 11.09 EPS 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 dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.38%. Chevron’s dividend payout ratio is 59.98%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial cut their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Scotiabank cut their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Finally, UBS Group raised their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.59.

Chevron Company 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.