Chevron Co. (NYSE:CVX) Shares Acquired by Edge Capital Group LLC

Edge Capital Group LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 2.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,225 shares of the oil and gas company’s stock after purchasing an additional 1,601 shares during the period. Edge Capital Group LLC’s holdings in Chevron were worth $10,828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. American Capital Advisory LLC raised its stake in shares of Chevron by 403.2% in the first 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 in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Chevron during the 4th quarter worth about $30,000. Anfield Capital Management LLC raised its position 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 purchasing an additional 118 shares in the last quarter. Cooksen Wealth LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $40,000. Finally, Clear Investment Research LLC grew its position in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX opened at $145.68 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $148.06 and its two-hundred day moving average is $154.48. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The firm has a market capitalization of $268.48 billion, a PE ratio of 13.40, a P/E/G ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during 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% compared to the same quarter last year. During the same quarter last year, the firm earned $3.08 earnings per share. Research analysts anticipate that Chevron Co. will post 11.48 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVX. 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 report on Monday, August 5th. Truist Financial lowered their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Mizuho reduced 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, September 16th. UBS Group dropped their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Scotiabank decreased their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $182.41.

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.