Ranch Capital Advisors Inc. Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Ranch Capital Advisors Inc. reduced its position in Chevron Co. (NYSE:CVX) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,042 shares of the oil and gas company’s stock after selling 637 shares during the period. Chevron comprises about 1.0% of Ranch Capital Advisors Inc.’s portfolio, making the stock its 29th biggest holding. Ranch Capital Advisors Inc.’s holdings in Chevron were worth $1,884,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC grew its position 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 valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC acquired a new stake in Chevron in the first quarter valued at approximately $345,000. KCM Investment Advisors LLC increased its position in shares of Chevron by 2.5% in 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 buying an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Chevron during the 4th quarter worth approximately $46,000. Finally, Hosking Partners LLP acquired a new stake in Chevron in the 1st quarter valued at $4,924,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $144.98 on Friday. The firm has a market capitalization of $267.19 billion, a price-to-earnings ratio of 13.34, a PEG 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. The company’s 50-day moving average is $148.26 and its two-hundred day moving average is $154.47. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the business earned $3.08 EPS. Chevron’s revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Chevron Co. will post 11.48 EPS for the current year.

Chevron Announces Dividend

The business 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 was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.50%. Chevron’s payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank lowered their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Truist Financial reduced their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

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.