Lindenwold Advisors INC Increases Holdings in Chevron Co. (NYSE:CVX)

Lindenwold Advisors INC raised its position in Chevron Co. (NYSE:CVX) by 1.5% in the 3rd quarter, Holdings Channel reports. The fund owned 15,651 shares of the oil and gas company’s stock after purchasing an additional 238 shares during the period. Chevron accounts for 1.2% of Lindenwold Advisors INC’s holdings, making the stock its 26th biggest holding. Lindenwold Advisors INC’s holdings in Chevron were worth $2,305,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CVX. Marietta Wealth Management LLC increased its stake in shares of Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after buying an additional 3,965 shares during the last quarter. Leo Wealth LLC grew its stake in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares during the last quarter. RPG Investment Advisory LLC grew its position in shares of Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after acquiring an additional 3,933 shares during the last quarter. Garner Asset Management Corp increased its stake in shares of Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after purchasing an additional 2,530 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. increased its position in Chevron by 3.2% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock valued at $16,930,000 after acquiring an additional 3,561 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.6 %

Shares of Chevron stock opened at $160.78 on Tuesday. The company’s fifty day simple moving average is $149.80 and its 200-day simple moving average is $152.57. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $288.94 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 3.63 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 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.05 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.06%. Chevron’s payout ratio is presently 71.65%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

About Chevron

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.