First City Capital Management Inc. Buys 2,585 Shares of Chevron Co. (NYSE:CVX)

First City Capital Management Inc. grew its stake in shares of Chevron Co. (NYSE:CVX) by 20.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,298 shares of the oil and gas company’s stock after acquiring an additional 2,585 shares during the period. Chevron comprises 1.3% of First City Capital Management Inc.’s investment portfolio, making the stock its 17th biggest position. First City Capital Management Inc.’s holdings in Chevron were worth $2,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of CVX. American Capital Advisory LLC increased its position in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in Chevron in the 4th quarter valued at about $30,000. Anfield Capital Management LLC lifted its holdings in 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 purchasing an additional 118 shares during the last quarter. Cooksen Wealth LLC purchased a new position in shares of Chevron in the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC raised its position in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.5 %

CVX opened at $145.68 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70. 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 business’s 50-day moving average price is $148.06 and its 200-day moving average price is $154.48. The company has a market cap of $268.48 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the firm posted $3.08 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Chevron Co. will post 11.48 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 annualized dividend and a yield of 4.48%. Chevron’s payout ratio is currently 59.98%.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada reduced their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, UBS Group decreased their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.41.

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.