Motiv8 Investments LLC Raises Stake in Chevron Co. (NYSE:CVX)

Motiv8 Investments LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,328 shares of the oil and gas company’s stock after purchasing an additional 93 shares during the quarter. Motiv8 Investments LLC’s holdings in Chevron were worth $833,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CVX. American Capital Advisory LLC raised its position in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $30,000. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cooksen Wealth LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC increased its position in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada reduced their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Scotiabank reduced their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Trading Down 1.7 %

Shares of CVX traded down $2.37 during trading hours on Friday, reaching $138.56. 7,836,358 shares of the company traded hands, compared to its average volume of 7,768,067. The firm has a market cap of $255.36 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 2.50 and a beta of 1.09. Chevron Co. has a 12-month low of $137.87 and a 12-month high of $171.70. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average price is $150.82 and its 200 day moving average price is $155.26.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the firm posted $3.08 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Announces Dividend

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

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.