Inlet Private Wealth LLC Purchases 1,400 Shares of Chevron Co. (NYSE:CVX)

Inlet Private Wealth LLC raised its position in Chevron Co. (NYSE:CVX) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,148 shares of the oil and gas company’s stock after purchasing an additional 1,400 shares during the period. Inlet Private Wealth LLC’s holdings in Chevron were worth $2,231,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Beese Fulmer Investment Management Inc. increased its position in shares of Chevron by 3.6% in the first quarter. Beese Fulmer Investment Management Inc. now owns 97,291 shares of the oil and gas company’s stock worth $15,347,000 after purchasing an additional 3,417 shares during the last quarter. Bath Savings Trust Co lifted its holdings in shares of Chevron by 6.3% during the 1st quarter. Bath Savings Trust Co now owns 28,680 shares of the oil and gas company’s stock worth $4,524,000 after acquiring an additional 1,705 shares during the last quarter. Emprise Bank purchased a new position in Chevron in the first quarter worth $656,000. Rowlandmiller & PARTNERS.ADV increased its stake in Chevron by 0.7% in the first quarter. Rowlandmiller & PARTNERS.ADV now owns 46,529 shares of the oil and gas company’s stock valued at $7,339,000 after acquiring an additional 330 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its position in Chevron by 1.7% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 549,089 shares of the oil and gas company’s stock valued at $86,613,000 after purchasing an additional 8,949 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Truist Financial lowered their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Bank of America began coverage on shares of Chevron in a report on Thursday. They set a “buy” rating and a $168.00 target price on the stock. Finally, Sanford C. Bernstein lowered shares of 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 research report on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.81.

Chevron Stock Up 0.7 %

Shares of CVX stock traded up $1.09 during midday trading on Thursday, reaching $149.82. 3,047,414 shares of the stock were exchanged, compared to its average volume of 7,701,309. The firm has a market cap of $276.11 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. 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 company’s 50 day moving average is $145.82 and its two-hundred day moving average is $153.78. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.08 EPS. On average, equities research analysts predict that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

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.