Townsquare Capital LLC Has $36.23 Million Stock Position in Chevron Co. (NYSE:CVX)

Townsquare Capital LLC raised its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 16.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 245,998 shares of the oil and gas company's stock after purchasing an additional 35,525 shares during the quarter. Townsquare Capital LLC's holdings in Chevron were worth $36,228,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $30,000. Anfield Capital Management LLC increased its stake 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 acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Finally, Livelsberger Financial Advisory acquired a new stake in Chevron in the third quarter worth $47,000. Institutional investors own 72.42% of the company's stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the business's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Chevron Trading Up 1.3 %

Shares of CVX stock opened at $162.50 on Wednesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $152.32 and a 200-day moving average of $152.49. The firm has a market cap of $292.03 billion, a P/E ratio of 17.86, a PEG ratio of 3.54 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the company posted $3.05 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 10.53 earnings per share 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 $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.01%. Chevron's payout ratio is 71.65%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Royal Bank of Canada raised their target price on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $145.00 to $185.00 in a report on Tuesday. Scotiabank decreased their price target 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. UBS Group boosted their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, Truist Financial raised their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $175.56.

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.

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