Schear Investment Advisers LLC Has $1.92 Million Holdings in Chevron Co. (NYSE:CVX)

Schear Investment Advisers LLC raised its stake in Chevron Co. (NYSE:CVX) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,044 shares of the oil and gas company’s stock after acquiring an additional 92 shares during the quarter. Chevron comprises approximately 1.2% of Schear Investment Advisers LLC’s investment portfolio, making the stock its 24th biggest holding. Schear Investment Advisers LLC’s holdings in Chevron were worth $1,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at about $29,000. Anfield Capital Management LLC increased its position in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $47,000. Finally, Krane Funds Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVX. Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. UBS Group lifted their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Truist Financial lifted their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Price Performance

Shares of CVX opened at $161.42 on Friday. The company has a market cap of $290.09 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 3.63 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company’s fifty day simple moving average is $149.39 and its 200 day simple moving average is $152.62. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.05 earnings per share. On average, research analysts forecast that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s dividend payout ratio is currently 71.65%.

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.