Sound Shore Management Inc. CT Buys 13,315 Shares of Chevron Co. (NYSE:CVX)

Sound Shore Management Inc. CT lifted its position in shares of Chevron Co. (NYSE:CVX) by 18.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,155 shares of the oil and gas company’s stock after purchasing an additional 13,315 shares during the period. Sound Shore Management Inc. CT’s holdings in Chevron were worth $13,320,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Capital Advisory LLC boosted its holdings 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 worth $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at about $30,000. Anfield Capital Management LLC lifted its holdings in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cooksen Wealth LLC bought a new position in Chevron during the fourth quarter valued at about $40,000. Finally, Clear Investment Research LLC raised its holdings in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.5 %

Shares of NYSE CVX opened at $145.65 on Friday. The business’s 50 day moving average price is $148.06 and its 200-day moving average price is $154.45. The company has a market cap of $268.43 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.48 and a beta of 1.09. 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 Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Co. will post 11.48 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.48%. Chevron’s payout ratio is presently 59.98%.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Scotiabank dropped their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. UBS Group dropped their price target on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial reduced their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Finally, Royal Bank of Canada dropped their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.41.

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.