Chevron Co. (NYSE:CVX) Stock Position Raised by Hollencrest Capital Management

Hollencrest Capital Management lifted its position in Chevron Co. (NYSE:CVX) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,362 shares of the oil and gas company’s stock after buying an additional 350 shares during the quarter. Hollencrest Capital Management’s holdings in Chevron were worth $1,934,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Eagle Capital Management LLC boosted its holdings in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the period. Lane & Associates LLC acquired a new position in Chevron during the 1st quarter worth $345,000. KCM Investment Advisors LLC boosted its holdings in Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after acquiring an additional 8,168 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Chevron in the fourth quarter valued at about $46,000. Finally, Hosking Partners LLP acquired a new position in shares of Chevron during the 1st quarter worth about $4,924,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. 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. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank decreased 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 report on Friday, July 12th. Finally, Mizuho cut their price objective 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 analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $182.41.

Chevron Price Performance

Shares of CVX stock opened at $144.98 on Friday. The stock’s fifty day simple moving average is $148.26 and its 200 day simple moving average is $154.47. Chevron Co. has a one year low of $135.37 and a one year high of $171.70. The firm has a market cap of $267.19 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 2.48 and a beta of 1.09. 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 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 firm had revenue of $51.18 billion during 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%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.08 EPS. On average, analysts expect that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

About Chevron

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.