Chevron Co. (NYSE:CVX) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital increased its holdings in shares of Chevron Co. (NYSE:CVX) by 7.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,982 shares of the oil and gas company’s stock after purchasing an additional 1,016 shares during the quarter. Wedmont Private Capital’s holdings in Chevron were worth $2,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. American Capital Advisory LLC boosted its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Bare Financial Services Inc acquired a new stake in shares of Chevron during the 4th quarter worth about $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $30,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC increased its position in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on CVX shares. Piper Sandler lifted their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. 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. HSBC lifted their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Performance

Shares of CVX stock traded down $0.85 during trading hours on Tuesday, reaching $144.17. 5,303,305 shares of the company’s stock were exchanged, compared to its average volume of 7,896,246. The company has a market cap of $265.70 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 2.33 and a beta of 1.10. The company’s 50 day moving average is $154.62 and its two-hundred day moving average is $156.11. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last released its quarterly 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). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.64% and a net margin of 9.31%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.08 EPS. Equities research analysts anticipate that Chevron Co. will post 12.3 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.