Mitchell & Pahl Private Wealth LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Mitchell & Pahl Private Wealth LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,763 shares of the oil and gas company’s stock after purchasing an additional 1,218 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Chevron were worth $1,879,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Anfield Capital Management LLC grew its stake in Chevron by 118.0% during the 2nd 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 during the last quarter. Cyrus J. Lawrence LLC grew its position in shares of 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 acquiring an additional 100 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Chevron in the 1st quarter valued at $55,000. Richardson Capital Management LLC purchased a new stake in Chevron in the 1st quarter valued at $58,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Chevron during the 2nd quarter worth $59,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock traded up $1.27 during midday trading on Thursday, hitting $150.00. 1,949,996 shares of the stock were exchanged, compared to its average volume of 7,694,712. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market cap of $276.44 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 2.72 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The stock’s 50-day moving average price is $145.82 and its 200-day moving average price is $153.78.

Chevron (NYSE:CVX) last released its quarterly earnings results 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). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $3.08 EPS. Research analysts predict that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have commented on CVX shares. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. UBS Group upped their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Bank of America assumed coverage on Chevron in a research note on Thursday. They issued a “buy” rating and a $168.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Six research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.81.

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.