FDx Advisors Inc. Buys 129 Shares of Chevron Co. (NYSE:CVX)

FDx Advisors Inc. raised its position in Chevron Co. (NYSE:CVX) by 3.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,939 shares of the oil and gas company’s stock after acquiring an additional 129 shares during the period. FDx Advisors Inc.’s holdings in Chevron were worth $580,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after buying an additional 501,969 shares during the last quarter. Capital World Investors increased its holdings in Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after purchasing an additional 629,644 shares during the last quarter. Capital International Investors lifted its holdings in shares of Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after buying an additional 126,889 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

CVX stock traded down $0.56 during midday trading on Monday, reaching $156.37. 1,311,705 shares of the company’s stock traded hands, compared to its average volume of 7,634,762. The firm has a market capitalization of $285.99 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 3.51 and a beta of 1.09. The company has a 50-day moving average price of $147.80 and a two-hundred day moving average price of $152.74. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 EPS. As a group, equities analysts anticipate that Chevron Co. will post 10.59 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CVX shares. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Truist Financial increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron 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.