Waters Parkerson & CO. LLC Sells 618 Shares of Chevron Co. (NYSE:CVX)

Waters Parkerson & CO. LLC lessened its stake in shares of Chevron Co. (NYSE:CVXFree Report) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 297,819 shares of the oil and gas company’s stock after selling 618 shares during the quarter. Chevron makes up about 2.5% of Waters Parkerson & CO. LLC’s portfolio, making the stock its 12th biggest position. Waters Parkerson & CO. LLC’s holdings in Chevron were worth $46,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pacifica Partners Inc. lifted its stake in Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC grew its stake in Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after buying an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC increased its position in Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after buying an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC boosted its holdings in shares of Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after acquiring an additional 64 shares during the period. Finally, Ellenbecker Investment Group boosted its holdings in shares of Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $144.98 on Friday. 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 fifty-two week low of $135.37 and a fifty-two week high of $171.70. The firm’s fifty day simple moving average is $148.26 and its 200-day simple moving average is $154.47. The stock has a market cap of $267.19 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVXGet Free Report) last issued 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 return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. 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. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.50%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Truist Financial reduced their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. 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 report on Monday, August 5th. Barclays reduced their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, UBS Group cut their price target on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.41.

Check Out Our Latest Report on CVX

Chevron Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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