Xcel Wealth Management LLC Acquires 131 Shares of Chevron Co. (NYSE:CVX)

Xcel Wealth Management LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 3.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,048 shares of the oil and gas company’s stock after purchasing an additional 131 shares during the quarter. Xcel Wealth Management LLC’s holdings in Chevron were worth $596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Eagle Capital Management LLC raised its holdings in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares in the last quarter. KCM Investment Advisors LLC raised its holdings in shares of Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares in the last quarter. Hosking Partners LLP purchased a new stake in shares of Chevron during the 1st quarter worth approximately $4,924,000. Garner Asset Management Corp raised its holdings in Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after buying an additional 2,530 shares during the period. Finally, Motiv8 Investments LLC raised its holdings in Chevron by 1.8% during the 2nd quarter. Motiv8 Investments LLC now owns 5,328 shares of the oil and gas company’s stock valued at $833,000 after buying an additional 93 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of CVX stock opened at $150.92 on Wednesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock’s 50-day moving average is $146.32 and its 200 day moving average is $153.47. The company has a market cap of $278.14 billion, a P/E ratio of 13.88, a PEG ratio of 2.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 10.95 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm 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. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. UBS Group upped their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

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.