Alaethes Wealth LLC Raises Stake in Chevron Co. (NYSE:CVX)

Alaethes Wealth LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 2.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,405 shares of the oil and gas company’s stock after purchasing an additional 250 shares during the quarter. Alaethes Wealth LLC’s holdings in Chevron were worth $1,940,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. American Capital Advisory LLC increased its position in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth $30,000. Anfield Capital Management LLC increased its holdings in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cooksen Wealth LLC bought a new position in shares of Chevron during the fourth quarter valued at $40,000. Finally, Clear Investment Research LLC raised its position in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. UBS Group cut their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday. Scotiabank cut their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Truist Financial reduced their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $182.41.

Chevron Price Performance

NYSE CVX opened at $145.65 on Friday. The company has a 50-day moving average price of $148.06 and a 200-day moving average price of $154.45. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $268.43 billion, a P/E ratio of 13.40, a PEG ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. Equities research analysts anticipate that Chevron Co. will post 11.48 earnings per share 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 given 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 4.48%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.