Chevron Co. (NYSE:CVX) Shares Acquired by First PREMIER Bank

First PREMIER Bank raised its position in shares of Chevron Co. (NYSE:CVX) by 6.7% in the third quarter, Holdings Channel.com reports. The fund owned 7,500 shares of the oil and gas company’s stock after acquiring an additional 473 shares during the quarter. First PREMIER Bank’s holdings in Chevron were worth $1,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in shares of Chevron during the third quarter valued at approximately $64,000. St. Louis Financial Planners Asset Management LLC increased its holdings in shares of Chevron by 12.8% in the third quarter. St. Louis Financial Planners Asset Management LLC now owns 15,197 shares of the oil and gas company’s stock valued at $2,291,000 after purchasing an additional 1,722 shares during the last quarter. Hoxton Planning & Management LLC increased its holdings in shares of Chevron by 42.6% in the third quarter. Hoxton Planning & Management LLC now owns 2,136 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 638 shares during the last quarter. Sage Capital Advisors llc increased its holdings in shares of Chevron by 1.2% in the third quarter. Sage Capital Advisors llc now owns 41,019 shares of the oil and gas company’s stock valued at $6,041,000 after purchasing an additional 471 shares during the last quarter. Finally, Talbot Financial LLC increased its holdings in shares of Chevron by 5.1% in the third quarter. Talbot Financial LLC now owns 110,120 shares of the oil and gas company’s stock valued at $16,217,000 after purchasing an additional 5,297 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Chevron in a report on Tuesday. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. UBS Group increased their price target on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday. Finally, 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. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $178.59.

Chevron Trading Down 0.3 %

CVX opened at $148.27 on Wednesday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The business has a fifty day simple moving average of $145.66 and a 200-day simple moving average of $154.05. The firm has a market cap of $273.26 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 yield of 4.40%. Chevron’s dividend payout ratio (DPR) is presently 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.