Chevron Co. (NYSE:CVX) Shares Purchased by Caprock Group LLC

Caprock Group LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 125.1% in the second quarter, Holdings Channel reports. The institutional investor owned 51,153 shares of the oil and gas company’s stock after buying an additional 28,425 shares during the period. Caprock Group LLC’s holdings in Chevron were worth $8,002,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Chevron during the fourth quarter worth $2,902,007,000. Berkshire Hathaway Inc boosted its position in shares of Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Capital World Investors grew its stake in shares of Chevron by 43.5% during the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after purchasing an additional 4,596,584 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Chevron by 13.0% in the fourth quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock valued at $2,330,235,000 after purchasing an additional 1,797,171 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 1.7 %

CVX stock opened at $138.56 on Friday. Chevron Co. has a 52 week low of $137.87 and a 52 week high of $171.70. The company has a market cap of $253.42 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.40 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $150.82 and a 200-day simple moving average of $155.26.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the business earned $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Chevron Co. will post 11.86 EPS for the current year.

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CVX. Barclays lowered their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial lowered their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Mizuho lifted their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Royal Bank of Canada decreased their price objective 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.