Chevron Co. (NYSE:CVX) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 6.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 243,804 shares of the oil and gas company’s stock after buying an additional 14,728 shares during the period. Private Advisor Group LLC’s holdings in Chevron were worth $38,090,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in Chevron by 4.9% in the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock valued at $3,202,000 after purchasing an additional 1,005 shares during the last quarter. Gilbert & Cook Inc. raised its position in shares of Chevron by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after buying an additional 369 shares during the last quarter. Aveo Capital Partners LLC raised its holdings in Chevron by 1.0% in the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after acquiring an additional 82 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of Chevron by 55.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after purchasing an additional 4,047 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in Chevron by 160.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 13,883 shares of the oil and gas company’s stock worth $2,071,000 after buying an additional 8,558 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 1.7 %

NYSE:CVX opened at $138.48 on Friday. The stock has a fifty day moving average price of $150.82 and a 200 day moving average price of $155.26. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $137.87 and a 12-month high of $171.70. The firm has a market cap of $255.21 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the business posted $3.08 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.71%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial decreased their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Scotiabank cut their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Mizuho upped their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron 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.