Strata Wealth Advisors LLC Takes Position in Chevron Co. (NYSE:CVX)

Strata Wealth Advisors LLC bought a new position in Chevron Co. (NYSE:CVX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,676 shares of the oil and gas company’s stock, valued at approximately $262,000.

Other institutional investors have also recently bought and sold shares of the company. Eagle Capital Management LLC boosted its position 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 worth $5,435,000 after buying an additional 163 shares during the period. Lane & Associates LLC acquired a new stake in Chevron during the 1st quarter worth about $345,000. KCM Investment Advisors LLC boosted its position in Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares during the period. Livelsberger Financial Advisory purchased a new position in Chevron during the 4th quarter valued at about $46,000. Finally, Hosking Partners LLP acquired a new position in shares of Chevron in the 1st quarter valued at about $4,924,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CVX shares. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank dropped their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. 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 report on Monday, August 5th. Finally, UBS Group lowered their target price on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $182.41.

Chevron Price Performance

NYSE:CVX opened at $147.50 on Tuesday. 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 Co. has a one year low of $135.37 and a one year high of $171.70. The company has a fifty day moving average price of $147.85 and a 200 day moving average price of $154.51. The stock has a market cap of $271.84 billion, a P/E ratio of 13.57, a PEG ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 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 for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the company posted $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 11.48 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

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.