Martin Capital Partners LLC Has $7.84 Million Stock Position in Chevron Corporation $CVX

Martin Capital Partners LLC raised its stake in shares of Chevron Corporation (NYSE:CVX) by 26.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 50,468 shares of the oil and gas company’s stock after acquiring an additional 10,556 shares during the period. Chevron makes up approximately 3.0% of Martin Capital Partners LLC’s holdings, making the stock its 9th biggest position. Martin Capital Partners LLC’s holdings in Chevron were worth $7,837,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Summit Financial Wealth Advisors LLC lifted its position in Chevron by 1.7% during the third quarter. Summit Financial Wealth Advisors LLC now owns 32,350 shares of the oil and gas company’s stock valued at $5,001,000 after purchasing an additional 547 shares during the period. Aaron Wealth Advisors LLC grew its position in Chevron by 134.8% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 17,037 shares of the oil and gas company’s stock worth $2,646,000 after purchasing an additional 9,782 shares during the period. Shorepoint Capital Partners LLC purchased a new stake in Chevron during the 3rd quarter valued at $8,519,000. St. Louis Financial Planners Asset Management LLC lifted its holdings in shares of Chevron by 1.2% during the 3rd quarter. St. Louis Financial Planners Asset Management LLC now owns 18,683 shares of the oil and gas company’s stock valued at $2,901,000 after buying an additional 221 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Chevron by 66.3% in the 3rd quarter. GAMMA Investing LLC now owns 45,515 shares of the oil and gas company’s stock worth $7,068,000 after buying an additional 18,150 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Piper Sandler reduced their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Scotiabank increased their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $166.00.

Insider Activity

In other news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

NYSE:CVX opened at $146.81 on Wednesday. The business’s 50-day simple moving average is $152.50 and its two-hundred day simple moving average is $152.35. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $295.60 billion, a PE ratio of 20.65, a P/E/G ratio of 8.90 and a beta of 0.68. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.48 earnings per share. As a group, analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is 96.20%.

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.