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

ProVise Management Group LLC lifted its position in Chevron Co. (NYSE:CVX) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,683 shares of the oil and gas company’s stock after acquiring an additional 1,929 shares during the period. ProVise Management Group LLC’s holdings in Chevron were worth $7,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CVX. American Capital Advisory LLC boosted its stake in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in Chevron during 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 worth $34,000 after buying an additional 118 shares during the last quarter. Cooksen Wealth LLC acquired a new position in Chevron during the fourth quarter worth $40,000. Finally, Clear Investment Research LLC boosted its stake in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Barclays reduced their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday. Truist Financial cut their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, UBS Group cut their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday. Seven equities research 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 currently has an average rating of “Moderate Buy” and an average target price of $182.41.

Chevron Stock Performance

NYSE CVX opened at $143.96 on Thursday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The company has a market capitalization of $263.29 billion, a P/E ratio of 13.24, a PEG ratio of 2.41 and a beta of 1.09. The business has a 50 day moving average price of $148.47 and a 200 day moving average price of $154.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its 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 company 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%. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.08 EPS. Sell-side analysts expect that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Dividend Announcement

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

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.