Steel Grove Capital Advisors LLC Has $2.74 Million Stock Position in Chevron Co. (NYSE:CVX)

Steel Grove Capital Advisors LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 3.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 17,522 shares of the oil and gas company’s stock after selling 602 shares during the period. Chevron accounts for 0.4% of Steel Grove Capital Advisors LLC’s portfolio, making the stock its 24th largest position. Steel Grove Capital Advisors LLC’s holdings in Chevron were worth $2,741,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. American Capital Advisory LLC boosted its holdings in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Chevron in the 4th quarter valued at about $30,000. Anfield Capital Management LLC raised its holdings in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC bought a new position in Chevron during the fourth quarter worth about $40,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CVX shares. UBS Group cut their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Scotiabank cut their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $182.41.

Chevron Trading Up 0.5 %

CVX opened at $145.68 on Monday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70. The firm has a market capitalization of $268.48 billion, a PE ratio of 13.40, a P/E/G 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. The company’s 50-day moving average is $148.06 and its 200 day moving average is $154.53.

Chevron (NYSE:CVX) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid 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 59.98%.

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.