Chevron Co. (NYSE:CVX) Shares Purchased by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,829 shares of the oil and gas company’s stock after buying an additional 169 shares during the quarter. Chevron makes up approximately 1.6% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 22nd largest position. Pegasus Asset Management Inc.’s holdings in Chevron were worth $4,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% in the second 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 period. Cyrus J. Lawrence LLC increased its position in shares of Chevron by 66.7% during the second 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 in the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $47,000. Livelsberger Financial Advisory acquired a new stake in Chevron during the 3rd quarter worth approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Chevron during the 1st quarter worth $55,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Truist Financial lowered their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Up 0.0 %

Shares of NYSE:CVX opened at $150.92 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a market cap of $278.14 billion, a P/E ratio of 13.88, a P/E/G ratio of 2.73 and a beta of 1.09. The company’s 50-day moving average price is $146.32 and its two-hundred day moving average price is $153.47. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion during 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 firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.08 EPS. As a group, research analysts forecast that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Dividend Announcement

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

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.