Oppenheimer & Co. Inc. Has $25.52 Million Holdings in Chevron Co. (NYSE:CVX)

Oppenheimer & Co. Inc. lessened its stake in Chevron Co. (NYSE:CVX - Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,307 shares of the oil and gas company's stock after selling 7,891 shares during the period. Oppenheimer & Co. Inc.'s holdings in Chevron were worth $25,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Rational Advisors LLC acquired a new position in Chevron during the third quarter worth $29,000. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after buying an additional 100 shares during the period. Krane Funds Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $47,000. Finally, Livelsberger Financial Advisory purchased a new position in Chevron in the 3rd quarter valued at approximately $47,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX traded up $3.40 during trading hours on Wednesday, hitting $158.69. 8,819,048 shares of the company were exchanged, compared to its average volume of 7,660,609. The company has a market capitalization of $285.18 billion, a PE ratio of 17.20, a PEG ratio of 3.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a fifty day simple moving average of $148.18 and a 200-day simple moving average of $152.61. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $3.05 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Monday, November 18th. Chevron's dividend payout ratio (DPR) is presently 71.65%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVX shares. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a "buy" rating and a $168.00 price objective for the company. Truist Financial raised their price target on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Sanford C. Bernstein downgraded Chevron from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock 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.