GSB Wealth Management LLC Purchases 1,517 Shares of Chevron Co. (NYSE:CVX)

GSB Wealth Management LLC increased its stake in Chevron Co. (NYSE:CVX) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,115 shares of the oil and gas company’s stock after purchasing an additional 1,517 shares during the quarter. GSB Wealth Management LLC’s holdings in Chevron were worth $2,962,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Anfield Capital Management LLC raised its holdings in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Krane Funds Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $47,000. Livelsberger Financial Advisory bought a new stake in shares of Chevron in the 3rd quarter worth approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Chevron in the 1st quarter worth approximately $55,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CVX shares. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Barclays lowered their target price 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. Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Finally, Truist Financial lowered their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Down 0.3 %

CVX opened at $148.06 on Thursday. The company has a fifty day moving average price of $146.79 and a 200-day moving average price of $153.04. The firm has a market capitalization of $270.79 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last released its quarterly 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the firm earned $3.08 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.40%. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

Chevron 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.