Chevron Co. (NYSE:CVX) is Empowered Funds LLC’s 4th Largest Position

Empowered Funds LLC lifted its position in Chevron Co. (NYSE:CVX) by 5.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 654,701 shares of the oil and gas company’s stock after purchasing an additional 32,592 shares during the quarter. Chevron comprises about 1.5% of Empowered Funds LLC’s investment portfolio, making the stock its 4th biggest position. Empowered Funds LLC’s holdings in Chevron were worth $96,418,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Chevron during the 1st quarter valued at approximately $566,000. Wintrust Investments LLC lifted its holdings in Chevron by 1.6% during the 1st quarter. Wintrust Investments LLC now owns 10,066 shares of the oil and gas company’s stock worth $1,588,000 after buying an additional 158 shares during the last quarter. M&G Plc acquired a new stake in Chevron during the 1st quarter worth $16,280,000. Prevail Innovative Wealth Advisors LLC grew its stake in Chevron by 38.4% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 14,939 shares of the oil and gas company’s stock worth $2,356,000 after buying an additional 4,148 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its stake in shares of Chevron by 140.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 69,325 shares of the oil and gas company’s stock valued at $10,935,000 after purchasing an additional 40,453 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.2 %

Shares of CVX stock opened at $161.43 on Friday. The company has a market capitalization of $290.10 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a 50 day moving average price of $148.51 and a two-hundred day moving average price of $152.65.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm 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 business earned $3.05 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CVX shares. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. UBS Group upped their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

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.