DMC Group LLC Purchases 174 Shares of Chevron Co. (NYSE:CVX)

DMC Group LLC increased its position in Chevron Co. (NYSE:CVX) by 2.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,116 shares of the oil and gas company’s stock after purchasing an additional 174 shares during the period. DMC Group LLC’s holdings in Chevron were worth $1,048,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. raised its stake in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC raised its position in Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC lifted its stake in Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC boosted its position in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares during the period. Finally, Mayfair Advisory Group LLC grew its stake in shares of Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVX. Barclays decreased their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Bank of America began coverage on shares of Chevron in a research report on Thursday. They issued a “buy” rating and a $168.00 price target for the company. Finally, UBS Group upped their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Price Performance

Shares of NYSE CVX opened at $150.75 on Friday. The firm has a market capitalization of $277.83 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. 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 simple moving average is $146.07 and its 200-day simple moving average is $153.66.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates 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 firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.08 EPS. As a group, equities research analysts forecast that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is currently 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.