Cheviot Value Management LLC Acquires New Position in Chevron Co. (NYSE:CVX)

Cheviot Value Management LLC bought a new position in shares of Chevron Co. (NYSE:CVX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 78,891 shares of the oil and gas company’s stock, valued at approximately $12,340,000. Chevron comprises about 2.4% of Cheviot Value Management LLC’s holdings, making the stock its 15th biggest position.

Other institutional investors also recently modified their holdings of the company. Eagle Capital Management LLC raised its holdings in shares of Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC purchased a new stake in shares of Chevron during the 1st quarter valued at approximately $345,000. KCM Investment Advisors LLC lifted its stake in shares of Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Chevron during the 4th quarter valued at approximately $46,000. Finally, Hosking Partners LLP purchased a new stake in shares of Chevron during the 1st quarter valued at approximately $4,924,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $147.50 on Tuesday. The company’s fifty day moving average price is $147.85 and its 200-day moving average price is $154.51. The company has a market capitalization of $271.84 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a one year low of $135.37 and a one 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 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 company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business posted $3.08 EPS. On average, equities analysts anticipate that Chevron Co. will post 11.48 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent research reports. Barclays dropped their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada lowered their price objective 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. Truist Financial lowered their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. UBS Group reduced 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, September 18th. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.