Ables Iannone Moore & Associates Inc. Grows Position in Chevron Co. (NYSE:CVX)

Ables Iannone Moore & Associates Inc. raised its stake in Chevron Co. (NYSE:CVX) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,073 shares of the oil and gas company’s stock after acquiring an additional 287 shares during the quarter. Chevron makes up 0.8% of Ables Iannone Moore & Associates Inc.’s portfolio, making the stock its 26th biggest holding. Ables Iannone Moore & Associates Inc.’s holdings in Chevron were worth $1,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Eagle Capital Management LLC grew its stake in Chevron by 0.5% in 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 acquiring an additional 163 shares during the period. Lane & Associates LLC purchased a new stake in shares of Chevron in the first quarter valued at $345,000. KCM Investment Advisors LLC increased its stake in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in Chevron during the fourth quarter worth about $46,000. Finally, Hosking Partners LLP acquired a new stake in Chevron in the 1st quarter worth about $4,924,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $150.97 on Thursday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The stock has a market cap of $276.11 billion, a P/E ratio of 13.89, a PEG ratio of 2.64 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. The firm has a 50-day moving average of $146.26 and a two-hundred day moving average of $154.19.

Chevron (NYSE:CVX) last issued 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). The business had revenue of $51.18 billion during 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 company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 EPS. On average, research analysts expect that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm 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. This represents a $6.52 annualized dividend and a yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVX. Scotiabank dropped their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. UBS Group lowered their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.00.

Chevron Company 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.