Joule Financial LLC Has $470,000 Stake in Chevron Co. (NYSE:CVX)

Joule Financial LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 6.3% during the third quarter, Holdings Channel reports. The institutional investor owned 3,192 shares of the oil and gas company’s stock after acquiring an additional 190 shares during the quarter. Joule Financial LLC’s holdings in Chevron were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CVX. Pacifica Partners Inc. grew its holdings in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC lifted its position in Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after acquiring an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC boosted its stake in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC increased its holdings in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group raised its stake in shares of Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVX shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Barclays cut their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Bank of America assumed coverage on shares of Chevron in a research note on Thursday. They issued a “buy” rating and a $168.00 price objective for the company. Five 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

Chevron stock traded down $1.29 during trading on Friday, hitting $149.91. The stock had a trading volume of 1,335,174 shares, compared to its average volume of 7,686,938. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $145.96 and its two-hundred day moving average is $153.76. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The stock has a market cap of $276.28 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 11.06 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid 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 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.