SPC Financial Inc. Has $887,000 Position in Chevron Co. (NYSE:CVX)

SPC Financial Inc. grew its position in Chevron Co. (NYSE:CVX) by 23.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,671 shares of the oil and gas company’s stock after purchasing an additional 1,092 shares during the period. SPC Financial Inc.’s holdings in Chevron were worth $887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. American Capital Advisory LLC lifted its holdings in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth about $30,000. Anfield Capital Management LLC lifted its holdings 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 purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Finally, Cooksen Wealth LLC bought a new stake in Chevron during the 4th quarter worth approximately $40,000. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CVX. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday. Scotiabank lowered their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. UBS Group cut their price target on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Truist Financial dropped their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.00.

Chevron Stock Up 1.2 %

CVX opened at $147.27 on Tuesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The company has a market capitalization of $271.41 billion, a P/E ratio of 13.55, a P/E/G ratio of 2.68 and a beta of 1.09. The stock has a fifty day moving average of $146.43 and a 200-day moving average of $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.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 11.02 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 annualized dividend and a yield of 4.43%. Chevron’s dividend payout ratio is presently 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.