Marietta Wealth Management LLC Acquires 8,180 Shares of Chevron Co. (NYSE:CVX)

Marietta Wealth Management LLC raised its holdings in Chevron Co. (NYSE:CVX) by 28.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 36,519 shares of the oil and gas company’s stock after purchasing an additional 8,180 shares during the period. Marietta Wealth Management LLC’s holdings in Chevron were worth $5,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American Capital Advisory LLC boosted its stake 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 purchasing an additional 125 shares in the last quarter. Bare Financial Services Inc acquired a new stake in shares of Chevron in the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $30,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC boosted its stake in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX traded up $0.47 during trading on Friday, reaching $147.27. 6,874,416 shares of the company’s stock were exchanged, compared to its average volume of 7,867,067. The business has a 50 day moving average price of $153.82 and a 200-day moving average price of $155.96. The stock has a market capitalization of $271.41 billion, a P/E ratio of 13.55, a PEG ratio of 2.42 and a beta of 1.10. 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 fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CVX shares. Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Wells Fargo & Company upped their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Truist Financial cut their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. TD Cowen upped their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Finally, Scotiabank cut their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’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 completion of the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

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.