Chevron Co. (NYSE:CVX) Stock Position Raised by RiverFront Investment Group LLC

RiverFront Investment Group LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 12.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,449 shares of the oil and gas company’s stock after buying an additional 7,759 shares during the quarter. RiverFront Investment Group LLC’s holdings in Chevron were worth $10,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. J. W. Coons Advisors LLC lifted its stake in shares of Chevron by 1.4% in the 4th quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock valued at $1,059,000 after purchasing an additional 100 shares during the last quarter. Capital World Investors raised its holdings in Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after buying an additional 4,700,289 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Chevron by 190.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 223,188 shares of the oil and gas company’s stock worth $33,291,000 after buying an additional 146,423 shares during the last quarter. Morningstar Investment Management LLC lifted its position in shares of Chevron by 9.4% in the fourth quarter. Morningstar Investment Management LLC now owns 7,220 shares of the oil and gas company’s stock worth $1,077,000 after buying an additional 621 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its stake in shares of Chevron by 2.5% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 14,605 shares of the oil and gas company’s stock worth $2,178,000 after acquiring an additional 352 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.7 %

Shares of CVX stock opened at $149.73 on Wednesday. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a fifty day moving average price of $146.34 and a 200 day moving average price of $154.21. The stock has a market cap of $273.84 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its earnings results 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 business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the firm posted $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. Analysts predict that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.35%. Chevron’s payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial cut their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday. Finally, Barclays lowered their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.00.

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.