Brown Financial Advisors Takes $2.33 Million Position in Chevron Co. (NYSE:CVX)

Brown Financial Advisors purchased a new position in Chevron Co. (NYSE:CVX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 14,892 shares of the oil and gas company’s stock, valued at approximately $2,329,000. Chevron makes up about 1.0% of Brown Financial Advisors’ portfolio, making the stock its 28th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Capital Advisory LLC boosted 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 valued at $25,000 after buying an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at $30,000. Anfield Capital Management LLC boosted its stake in 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 grew its holdings in Chevron by 66.7% during the 2nd 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 in the last quarter. Finally, Cooksen Wealth LLC bought a new stake in shares of Chevron in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $149.73 on Wednesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $170.17. 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 company has a market cap of $273.84 billion, a PE ratio of 13.77, a P/E/G ratio of 2.64 and a beta of 1.09. The stock has a 50 day simple moving average of $146.34 and a 200-day simple moving average of $154.21.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the company posted $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 11.02 EPS for the current year.

Chevron Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 4.35%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CVX. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Scotiabank lowered their price target 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 reduced their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.00.

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.