Brighton Jones LLC Has $3.86 Million Position in Chevron Co. (NYSE:CVX)

Brighton Jones LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,672 shares of the oil and gas company’s stock after purchasing an additional 1,581 shares during the quarter. Brighton Jones LLC’s holdings in Chevron were worth $3,859,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Cowa LLC raised its stake in Chevron by 8.5% during the 2nd quarter. Cowa LLC now owns 3,811 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 300 shares during the period. ProVise Management Group LLC increased its stake in shares of Chevron by 4.0% in the second quarter. ProVise Management Group LLC now owns 49,683 shares of the oil and gas company’s stock worth $7,771,000 after acquiring an additional 1,929 shares during the last quarter. Delaney Dennis R increased its stake in shares of Chevron by 1.4% in the second quarter. Delaney Dennis R now owns 22,648 shares of the oil and gas company’s stock worth $3,543,000 after acquiring an additional 302 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Chevron by 1,690.5% in the second quarter. XTX Topco Ltd now owns 35,308 shares of the oil and gas company’s stock worth $5,523,000 after acquiring an additional 33,336 shares during the last quarter. Finally, Richardson Financial Services Inc. increased its stake in shares of Chevron by 15.2% in the second quarter. Richardson Financial Services Inc. now owns 2,381 shares of the oil and gas company’s stock worth $372,000 after acquiring an additional 314 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.7 %

NYSE CVX opened at $144.98 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a 50-day simple moving average of $148.26 and a 200 day simple moving average of $154.47. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The stock has a market cap of $267.19 billion, a PE ratio of 13.34, a PEG ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last released its 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the business posted $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 11.48 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVX. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank dropped their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Truist Financial lowered their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron 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.