Lazari Capital Management Inc. Increases Stake in Chevron Co. (NYSE:CVX)

Lazari Capital Management Inc. raised its stake in shares of Chevron Co. (NYSE:CVX) by 23.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,067 shares of the oil and gas company’s stock after buying an additional 761 shares during the quarter. Lazari Capital Management Inc.’s holdings in Chevron were worth $636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Eagle Capital Management LLC grew its holdings in shares of Chevron by 0.5% in 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 in the last quarter. Lane & Associates LLC purchased a new position in shares of Chevron in the first quarter valued at $345,000. KCM Investment Advisors LLC grew its holdings in shares of Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Chevron in the fourth quarter valued at $46,000. Finally, Hosking Partners LLP purchased a new position in shares of Chevron in the first quarter valued at $4,924,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX opened at $149.73 on Wednesday. The business’s 50-day moving average is $146.34 and its two-hundred day moving average is $154.21. Chevron Co. has a 1 year low of $135.37 and a 1 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 firm has a market capitalization of $273.84 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly 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 net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the firm posted $3.08 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Research analysts anticipate that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on CVX shares. Truist Financial lowered their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday. Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, UBS Group decreased their target price on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.