Solidarity Wealth LLC Buys 160 Shares of Chevron Co. (NYSE:CVX)

Solidarity Wealth LLC increased its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,017 shares of the oil and gas company’s stock after acquiring an additional 160 shares during the quarter. Solidarity Wealth LLC’s holdings in Chevron were worth $592,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Stewart & Patten Co. LLC raised its holdings in Chevron by 0.4% during the first quarter. Stewart & Patten Co. LLC now owns 99,187 shares of the oil and gas company’s stock worth $15,646,000 after buying an additional 401 shares during the last quarter. Tributary Capital Management LLC acquired a new position in Chevron during the 1st quarter valued at about $77,000. Eagle Capital Management LLC increased its holdings in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares in the last quarter. tru Independence LLC bought a new stake in Chevron during the 1st quarter worth approximately $5,166,000. Finally, Iams Wealth Management LLC raised its stake in shares of Chevron by 16.9% in the first quarter. Iams Wealth Management LLC now owns 11,801 shares of the oil and gas company’s stock worth $1,798,000 after purchasing an additional 1,702 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $148.06 on Thursday. The company has a 50-day moving average price of $146.79 and a two-hundred day moving average price of $153.04. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 firm has a market capitalization of $270.79 billion, a PE ratio of 14.66, a P/E/G ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $3.08 earnings per share. Equities analysts forecast that Chevron Co. will post 10.86 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed 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 was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.40%. Chevron’s dividend payout ratio (DPR) is 64.55%.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial reduced their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. 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 reduced their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $173.07.

Check Out Our Latest Report on Chevron

About Chevron

(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.

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