West Paces Advisors Inc. Has $1.79 Million Stake in Chevron Co. (NYSE:CVX)

West Paces Advisors Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 1.8% in the second quarter, Holdings Channel reports. The fund owned 11,421 shares of the oil and gas company’s stock after buying an additional 205 shares during the quarter. West Paces Advisors Inc.’s holdings in Chevron were worth $1,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Berkshire Hathaway Inc increased its holdings in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after purchasing an additional 1,999,332 shares in the last quarter. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $2,902,007,000. Bank of New York Mellon Corp increased its holdings in shares of Chevron by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after purchasing an additional 654,482 shares in the last quarter. Finally, Capital World Investors increased its holdings in shares of Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Mizuho raised their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Piper Sandler raised their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Barclays reduced their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. HSBC raised their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Truist Financial reduced their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Trading Up 1.5 %

Shares of Chevron stock traded up $2.15 during trading on Thursday, reaching $146.82. The company’s stock had a trading volume of 6,302,006 shares, compared to its average volume of 7,889,076. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a market cap of $270.58 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 2.42 and a beta of 1.10. The firm’s 50-day moving average is $154.18 and its two-hundred day moving average is $156.00. 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 issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is currently 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.