Brown Lisle Cummings Inc. Boosts Stake in Chevron Co. (NYSE:CVX)

Brown Lisle Cummings Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,625 shares of the oil and gas company’s stock after acquiring an additional 654 shares during the period. Brown Lisle Cummings Inc.’s holdings in Chevron were worth $2,007,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Anfield Capital Management LLC lifted its position in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its stake in 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 during the period. Krane Funds Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at about $47,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron in the 1st quarter valued at about $55,000. Finally, Richardson Capital Management LLC purchased a new stake in shares of Chevron in the 1st quarter valued at approximately $58,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Barclays cut their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Bank of America initiated coverage on shares of Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 price target for the company. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Truist Financial dropped 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. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Price Performance

Shares of CVX opened at $150.75 on Monday. 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 firm’s fifty day simple moving average is $146.07 and its 200-day simple moving average is $153.62. The firm has a market capitalization of $277.83 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the company posted $3.08 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. Chevron’s dividend payout ratio 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.