Chevron Co. (NYSE:CVX) Shares Acquired by Counterweight Ventures LLC

Counterweight Ventures LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 3.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,499 shares of the oil and gas company’s stock after purchasing an additional 594 shares during the quarter. Chevron makes up approximately 1.9% of Counterweight Ventures LLC’s holdings, making the stock its 20th largest position. Counterweight Ventures LLC’s holdings in Chevron were worth $2,581,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in Chevron by 4.9% during the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after acquiring an additional 1,005 shares during the period. Gilbert & Cook Inc. boosted its position in Chevron by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after acquiring an additional 369 shares during the period. Aveo Capital Partners LLC raised its stake in shares of 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 worth $1,285,000 after buying an additional 82 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in shares of Chevron by 55.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after buying an additional 4,047 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in shares of Chevron by 160.7% in the 4th 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 Stock Down 1.7 %

NYSE:CVX opened at $138.56 on Friday. The firm has a market capitalization of $253.42 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.40 and a beta of 1.09. Chevron Co. has a 1-year low of $137.87 and a 1-year 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 business’s fifty day moving average price is $150.82 and its 200 day moving average price is $155.26.

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

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research reports. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada dropped their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Barclays dropped their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Truist Financial dropped their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Finally, Mizuho boosted their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

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.