Trifecta Capital Advisors LLC Purchases 344 Shares of Chevron Co. (NYSE:CVX)

by · The Markets Daily

Trifecta Capital Advisors LLC raised its holdings in Chevron Co. (NYSE:CVX – Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 26,581 shares of the oil and gas company’s stock after acquiring an additional 344 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Chevron were worth $3,915,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Stolper Co raised its holdings in shares of Chevron by 4.6% during the first quarter. Stolper Co now owns 50,224 shares of the oil and gas company’s stock valued at $7,922,000 after purchasing an additional 2,226 shares during the period. Welch Group LLC lifted its holdings in shares of Chevron by 5.1% in the first quarter. Welch Group LLC now owns 372,870 shares of the oil and gas company’s stock valued at $58,817,000 after purchasing an additional 18,014 shares in the last quarter. Richard P Slaughter Associates Inc bought a new stake in Chevron during the first quarter worth $2,194,000. Ellenbecker Investment Group lifted its stake in Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares in the last quarter. Finally, Safeguard Financial LLC bought a new position in shares of Chevron during the first quarter valued at about $210,000. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on CVX shares. Mizuho decreased their price objective 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 reduced their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Bank of America initiated coverage on Chevron in a research note on Thursday. They issued a “buy” rating and a $168.00 target price on the stock. Finally, Truist Financial dropped their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Get Our Latest Stock Analysis on CVX

Chevron Stock Up 1.7 %

Shares of NYSE CVX opened at $151.19 on Friday. The firm’s fifty day moving average is $145.96 and its 200 day moving average is $153.76. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The company has a market cap of $276.51 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 2.74 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 EPS. On average, equities research analysts expect that Chevron Co. will post 11.06 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s dividend payout ratio is presently 64.55%.

Chevron Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX – Free Report).