Nixon Peabody Trust Co. Boosts Holdings in Chevron Co. (NYSE:CVX)

Nixon Peabody Trust Co. grew its holdings in Chevron Co. (NYSE:CVX) by 11.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 72,522 shares of the oil and gas company’s stock after buying an additional 7,432 shares during the period. Nixon Peabody Trust Co.’s holdings in Chevron were worth $10,680,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Rational Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter valued at about $29,000. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its holdings 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 valued at $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Down 1.1 %

Shares of CVX stock traded down $1.79 during trading on Monday, reaching $159.63. The company’s stock had a trading volume of 666,713 shares, compared to its average volume of 7,645,542. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock’s 50-day moving average price is $149.39 and its 200 day moving average price is $152.57. The company has a market capitalization of $286.87 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 3.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the company earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts anticipate that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend 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.