Chevron Co. (NYSE:CVX) Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,649 shares of the oil and gas company’s stock after acquiring an additional 7,421 shares during the quarter. Chevron makes up 0.7% of EverSource Wealth Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. EverSource Wealth Advisors LLC’s holdings in Chevron were worth $11,658,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CVX. Gilbert & Cook Inc. lifted its holdings in shares of Chevron by 3.7% in the 4th quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after purchasing an additional 369 shares during the last quarter. Aveo Capital Partners LLC lifted its stake in Chevron by 1.0% in the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after buying an additional 82 shares during the last quarter. Gryphon Financial Partners LLC boosted its holdings in shares of Chevron by 55.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after acquiring an additional 4,047 shares during the period. TrinityPoint Wealth LLC grew its position in shares of Chevron by 6.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock worth $1,588,000 after acquiring an additional 680 shares during the last quarter. Finally, AXS Investments LLC increased its holdings in shares of Chevron by 14.1% in the 4th quarter. AXS Investments LLC now owns 1,095 shares of the oil and gas company’s stock valued at $163,000 after acquiring an additional 135 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.5 %

Shares of NYSE:CVX opened at $145.68 on Friday. The company has a market capitalization of $268.48 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.48 and a beta of 1.09. The stock’s fifty day simple moving average is $148.06 and its 200-day simple moving average is $154.48. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its 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). The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $3.08 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.48%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CVX shares. UBS Group lowered their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada reduced their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Barclays cut their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $182.41.

Chevron Company 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.