Venturi Wealth Management LLC Has $4.28 Million Stock Position in Chevron Co. (NYSE:CVX)

Venturi Wealth Management LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 8.1% during the third quarter, HoldingsChannel.com reports. The firm owned 29,055 shares of the oil and gas company’s stock after buying an additional 2,175 shares during the period. Venturi Wealth Management LLC’s holdings in Chevron were worth $4,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CVX. Rational Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth about $29,000. Anfield Capital Management LLC raised its position 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 worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its position in Chevron by 66.7% in the second 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 in the last quarter. Krane Funds Advisors LLC bought a new position in Chevron during the third quarter worth about $47,000. Finally, Livelsberger Financial Advisory acquired a new stake in Chevron during the third quarter valued at approximately $47,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CVX shares. UBS Group increased their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Truist Financial lifted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Performance

CVX opened at $156.33 on Monday. The business’s 50-day simple moving average is $147.80 and its 200 day simple moving average is $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. The firm has a market capitalization of $285.91 billion, a PE ratio of 17.25, a PEG ratio of 3.51 and a beta of 1.09.

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

Chevron Announces Dividend

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

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.