Hofer & Associates. Inc Boosts Holdings in Chevron Co. (NYSE:CVX)

Hofer & Associates. Inc grew its stake in Chevron Co. (NYSE:CVX) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,652 shares of the oil and gas company’s stock after buying an additional 138 shares during the quarter. Hofer & Associates. Inc’s holdings in Chevron were worth $243,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Anfield Capital Management LLC increased its holdings in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Krane Funds Advisors LLC acquired a new position in Chevron in the 3rd quarter worth about $47,000. Livelsberger Financial Advisory purchased a new position in Chevron during the third quarter worth approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in Chevron in the first quarter valued at approximately $55,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $150.92 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $146.32 and a 200 day moving average price of $153.47. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market cap of $278.14 billion, a P/E ratio of 13.88, a PEG ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the company posted $3.08 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 10.95 earnings per share 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 $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.32%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.