Altrius Capital Management Inc Boosts Position in Chevron Co. (NYSE:CVX)

Altrius Capital Management Inc grew its stake in shares of Chevron Co. (NYSE:CVX) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,192 shares of the oil and gas company’s stock after buying an additional 1,421 shares during the period. Altrius Capital Management Inc’s holdings in Chevron were worth $4,410,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. American Capital Advisory LLC boosted its holdings in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth $30,000. Anfield Capital Management LLC boosted its stake in 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 period. Cooksen Wealth LLC purchased a new position in Chevron during the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC increased its stake in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $143.96 on Thursday. The stock has a market capitalization of $263.29 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The business’s 50 day simple moving average is $148.47 and its two-hundred day simple moving average is $154.54.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.08 earnings per share. Analysts forecast that Chevron Co. will post 11.57 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.53%. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVX. Truist Financial dropped their price target on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada dropped their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.41.

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.