Miramar Capital LLC Acquires 206 Shares of Chevron Co. (NYSE:CVX)

Miramar Capital LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,481 shares of the oil and gas company’s stock after acquiring an additional 206 shares during the quarter. Chevron accounts for 3.5% of Miramar Capital LLC’s portfolio, making the stock its 8th largest position. Miramar Capital LLC’s holdings in Chevron were worth $13,840,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Berkshire Hathaway Inc increased 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 valued at $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Capital World Investors increased its position 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 valued at $2,314,070,000 after purchasing an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Chevron by 68,604.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock valued at $180,158,000 after purchasing an additional 1,206,059 shares during the period. Finally, Wulff Hansen & CO. increased its position in shares of Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday. Barclays decreased their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Royal Bank of Canada decreased their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

Chevron Stock Performance

Shares of Chevron stock opened at $143.96 on Thursday. The stock has a market cap of $263.29 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The business has a fifty day simple moving average of $148.47 and a 200-day simple moving average of $154.54. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $3.08 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Announces Dividend

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