RFG Advisory LLC Purchases 5,602 Shares of Chevron Co. (NYSE:CVX)

by · The Cerbat Gem

RFG Advisory LLC grew its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 16.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 40,373 shares of the oil and gas company’s stock after acquiring an additional 5,602 shares during the quarter. RFG Advisory LLC’s holdings in Chevron were worth $5,946,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. LexAurum Advisors LLC lifted its position in Chevron by 2.2% in the third quarter. LexAurum Advisors LLC now owns 8,951 shares of the oil and gas company’s stock worth $1,318,000 after buying an additional 195 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron in the third quarter worth $47,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Chevron by 4.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 568,724 shares of the oil and gas company’s stock worth $83,756,000 after buying an additional 24,975 shares during the last quarter. AlphaMark Advisors LLC lifted its position in Chevron by 19.6% in the third quarter. AlphaMark Advisors LLC now owns 1,233 shares of the oil and gas company’s stock worth $182,000 after buying an additional 202 shares during the last quarter. Finally, Ellsworth Advisors LLC bought a new stake in Chevron in the third quarter worth $4,908,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 1.7 %

Chevron stock opened at $151.19 on Friday. 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 Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The company has a market capitalization of $276.51 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. The stock has a 50-day moving average price of $145.96 and a 200 day moving average price of $153.76.

Chevron (NYSE:CVX – Get Free Report) last released 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the firm earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Co. will post 11.06 EPS for the current year.

Chevron Announces Dividend

The company 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 64.55%.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Bank of America assumed coverage on Chevron in a research note on Thursday. They set a “buy” rating and a $168.00 price target on the stock. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Barclays dropped their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

View Our Latest Report on CVX

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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