Easterly Investment Partners LLC Expands Stake in Chevron Co.

Easterly Investment Partners LLC significantly increased its ownership in Chevron Co. (NYSE:CVX) by 75.1% during the third quarter, based on the latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now holds a total of 51,271 shares in the oil and gas company after acquiring an additional 21,996 shares during the period. As per the recent SEC filing, Easterly Investment Partners LLC's holdings in Chevron were valued at approximately $7,551,000.

Recent Adjustments by Other Investors

Several other institutional investors and hedge funds have also made adjustments to their Chevron stock holdings. Rational Advisors LLC initiated a new position in Chevron during the third quarter, investing about $29,000. Meanwhile, Anfield Capital Management LLC increased its stake by 118.0% in the second quarter, holding 218 shares valued at $34,000 after an additional purchase of 118 shares during the last quarter. Cyrus J. Lawrence LLC also raised its investments in Chevron by 66.7% in the same quarter, owning now 250 shares worth $39,000 after adding 100 shares. Additionally, both Krane Funds Advisors LLC and Livelsberger Financial Advisory established new positions in Chevron during the third quarter, each valued around $47,000. The current ownership of Chevron shares among institutional investors stands at 72.42%.

Analyst Ratings and Market Outlook

Various Wall Street analysts have provided their insights on Chevron's stock. Truist Financial increased its target price from $150.00 to $155.00, rating the stock as "hold." DZ Bank upgraded Chevron from "hold" to "buy," setting a target price of $170.00. Barclays also raised its target from $168.00 to $174.00, maintaining an "overweight" rating. On the other hand, Scotiabank lowered its target from $180.00 to $163.00 while giving it a "sector outperform" rating. Given these evaluations, Chevron now holds an average rating of "Moderate Buy" with a mean target price of $174.93 according to MarketBeat.com.

Chevron Stock Performance Overview

On Friday, shares of Chevron traded up by $0.13 to reach $156.90, with total trading volume capturing 1,538,497 shares—much lower than the average volume of 7,643,150. Chevron’s stock has seen a 12-month low of $135.37 and a 12-month high of $167.11, with a market capitalization of $286.96 billion. Key financial ratios include a price-to-earnings ratio of 17.13, a PEG ratio of 3.53, and a beta of 1.09. Currently, the fifty-day simple moving average stands at $147.43, while the 200-day simple moving average is at $152.90. Chevron maintains a debt-to-equity ratio of 0.13, a current ratio of 1.16, and a quick ratio of 0.85.

Recent Earnings Results and Dividend Announcement

Chevron announced its latest earnings results on November 1st, revealing earnings per share of $2.51 for the quarter, surpassing analyst expectations of $2.47. The company’s return on equity was recorded at 13.07%, with a net margin of 8.44%. Revenue for the quarter reached $50.67 billion, exceeding analyst projections of $48.86 billion, although revenue was down 6.3% compared to the same quarter the previous year. Analysts expect Chevron to post an EPS of 10.59 for the current fiscal year. Furthermore, Chevron revealed plans for a quarterly dividend, scheduled for payment on December 10th. Stockholders of record on November 18th will receive a dividend of $1.63 per share, yielding an annualized dividend of $6.52 at a rate of 4.16%. The company’s current dividend payout ratio stands at 71.65%.

About Chevron

Chevron Corporation, through its subsidiaries, is engaged in the integrated energy and chemical operations both in the United States and internationally. The company's operations are divided into two main segments: Upstream and Downstream. The Upstream segment focuses on the exploration, development, production, and transportation of crude oil and natural gas, along with processing, liquefaction, transportation, and regasification of liquefied natural gas.

Chevron, Investment, Shares