Chevron Co. (NYSE:CVX) Shares Acquired by Weaver C. Barksdale & Associates Inc.

Weaver C. Barksdale & Associates Inc. boosted its holdings in Chevron Co. (NYSE:CVX) by 12.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,387 shares of the oil and gas company’s stock after purchasing an additional 1,411 shares during the quarter. Chevron comprises approximately 1.8% of Weaver C. Barksdale & Associates Inc.’s portfolio, making the stock its 22nd biggest position. Weaver C. Barksdale & Associates Inc.’s holdings in Chevron were worth $1,938,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Berkshire Hathaway Inc grew its position in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after buying an additional 15,845,037 shares during the last quarter. Capital World Investors grew its holdings in shares of 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 worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Chevron by 68,604.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock valued at $180,158,000 after purchasing an additional 1,206,059 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its holdings in shares of Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.7 %

Chevron stock opened at $144.98 on Friday. The stock’s 50 day moving average price is $148.26 and its 200 day moving average price is $154.47. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The company has a market cap of $267.19 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued 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 analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.08 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 11.48 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 4.50%. Chevron’s payout ratio is currently 59.98%.

Analysts Set New Price Targets

Several research analysts have commented on CVX shares. Barclays cut 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. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday. Truist Financial dropped their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Finally, UBS Group lowered their price target on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday. Seven 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 company has an average rating of “Moderate Buy” and an average price target of $182.41.

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.