Maia Wealth LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Maia Wealth LLC boosted its stake in Chevron Co. (NYSE:CVX) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,577 shares of the oil and gas company’s stock after acquiring an additional 107 shares during the period. Maia Wealth LLC’s holdings in Chevron were worth $538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its stake in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after acquiring an additional 501,969 shares during the period. Capital World Investors increased its position in Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares during the period. Legal & General Group Plc raised its stake in shares of Chevron by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares in the last quarter. Capital International Investors lifted its holdings in shares of Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Chevron by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after buying an additional 126,889 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $157.65 on Thursday. The company has a 50-day simple moving average of $147.43 and a 200-day simple moving average of $152.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market cap of $288.33 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 3.43 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last released 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 net margin of 8.44% and a return on equity of 13.07%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the company earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 10.65 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CVX shares. Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Truist Financial boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday. Finally, Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. Four investment 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, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

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.