Summit Trail Advisors LLC Acquires 9,600 Shares of Chevron Co. (NYSE:CVX)

Summit Trail Advisors LLC increased its stake in Chevron Co. (NYSE:CVX) by 29.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,370 shares of the oil and gas company’s stock after purchasing an additional 9,600 shares during the quarter. Summit Trail Advisors LLC’s holdings in Chevron were worth $6,628,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CVX. American Capital Advisory LLC grew its position in shares of 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 acquiring an additional 125 shares during the period. Frank Rimerman Advisors LLC bought a new position in Chevron in the 4th quarter worth approximately $30,000. Anfield Capital Management LLC increased its holdings in Chevron by 118.0% in the 2nd 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 during the last quarter. Cooksen Wealth LLC bought a new stake in shares of Chevron in the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC raised its holdings in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CVX shares. Truist Financial decreased their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Barclays dropped their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.41.

Chevron Stock Up 0.5 %

Shares of NYSE:CVX opened at $145.65 on Friday. The stock has a market cap of $268.43 billion, a P/E ratio of 13.40, 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. The firm has a fifty day moving average price of $148.06 and a 200 day moving average price of $154.45. 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 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 business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the business posted $3.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict 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. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Monday, August 19th. Chevron’s 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.