Entropy Technologies LP Purchases Shares of 2,577 Chevron Co. (NYSE:CVX)

Entropy Technologies LP purchased a new position in Chevron Co. (NYSE:CVX) during the 3rd quarter, HoldingsChannel reports. The fund purchased 2,577 shares of the oil and gas company’s stock, valued at approximately $380,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. WCM Investment Management LLC increased its stake in Chevron by 306.1% in the 3rd quarter. WCM Investment Management LLC now owns 11,009 shares of the oil and gas company’s stock worth $1,602,000 after acquiring an additional 8,298 shares during the last quarter. FDx Advisors Inc. increased its position in shares of Chevron by 3.4% in the third quarter. FDx Advisors Inc. now owns 3,939 shares of the oil and gas company’s stock worth $580,000 after purchasing an additional 129 shares during the last quarter. Lynx Investment Advisory raised its stake in Chevron by 8.4% in the third quarter. Lynx Investment Advisory now owns 4,941 shares of the oil and gas company’s stock valued at $728,000 after purchasing an additional 381 shares in the last quarter. Tacita Capital Inc lifted its position in Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its stake in Chevron by 9.5% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 36,783 shares of the oil and gas company’s stock worth $5,417,000 after buying an additional 3,204 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective 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. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Truist Financial boosted their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, UBS Group increased their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Trading Down 0.2 %

Shares of CVX opened at $161.42 on Friday. The firm has a fifty day simple moving average of $148.93 and a two-hundred day simple moving average of $152.71. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market capitalization of $290.09 billion, a P/E ratio of 17.74, a PEG 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 (NYSE:CVX) last posted 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 13.15%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the business posted $3.05 earnings per share. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. 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 dividend payout ratio (DPR) is presently 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.