Chevron Co. (NYSE:CVX) Stock Position Increased by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 375.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,325 shares of the oil and gas company’s stock after acquiring an additional 27,105 shares during the period. Chevron accounts for approximately 3.1% of Investors Asset Management of Georgia Inc. GA ADV’s investment portfolio, making the stock its 4th biggest holding. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Chevron were worth $5,688,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cornerstone Advisors LLC increased its stake in Chevron by 16.6% in the third quarter. Cornerstone Advisors LLC now owns 84,800 shares of the oil and gas company’s stock valued at $14,299,000 after purchasing an additional 12,100 shares during the period. ESL Trust Services LLC acquired a new position in Chevron in the 3rd quarter valued at about $208,000. Cooper Haims Advisors LLC raised its stake in Chevron by 4.4% during the 3rd quarter. Cooper Haims Advisors LLC now owns 6,369 shares of the oil and gas company’s stock valued at $1,074,000 after acquiring an additional 267 shares during the last quarter. Navellier & Associates Inc. lifted its position in Chevron by 6.3% during the 3rd quarter. Navellier & Associates Inc. now owns 17,727 shares of the oil and gas company’s stock worth $2,989,000 after acquiring an additional 1,044 shares during the period. Finally, Houlihan Financial Resource Group Ltd. purchased a new stake in shares of Chevron during the third quarter worth approximately $661,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock traded up $1.04 during trading on Monday, reaching $152.08. 6,707,649 shares of the company’s stock were exchanged, compared to its average volume of 9,015,317. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $287.09 billion, a PE ratio of 13.30, a PEG ratio of 0.81 and a beta of 1.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $173.51. The firm’s fifty day moving average price is $147.87 and its 200-day moving average price is $154.47.

Chevron (NYSE:CVXGet Free Report) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.09 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 13.03 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Friday, February 16th will be paid a $1.63 dividend. The ex-dividend date is Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.29%. Chevron’s dividend payout ratio is 53.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVX shares. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $200.00 in a research report on Monday, October 30th. Morgan Stanley lowered their price objective on Chevron from $203.00 to $201.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 17th. Raymond James cut their target price on Chevron from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Finally, Truist Financial reduced their target price on Chevron from $175.00 to $169.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.95.

Get Our Latest Stock Report on CVX

About Chevron

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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