Pathway Financial Advisers LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Pathway Financial Advisers LLC raised its position in Chevron Co. (NYSE:CVX) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,614 shares of the oil and gas company’s stock after purchasing an additional 372 shares during the period. Chevron comprises about 1.4% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 20th largest position. Pathway Financial Advisers LLC’s holdings in Chevron were worth $3,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Capital Advisory LLC lifted its stake 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 worth $25,000 after purchasing an additional 125 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at about $30,000. Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% during 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. Cyrus J. Lawrence LLC boosted its position in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $40,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday. Barclays reduced their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company cut their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $180.00.

Chevron Stock Up 1.2 %

Shares of NYSE:CVX opened at $147.27 on Tuesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The company’s fifty day moving average is $146.43 and its two-hundred day moving average is $154.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $271.41 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

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 the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $3.08 earnings per share. Equities analysts anticipate that Chevron Co. will post 11.02 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) 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.