Moss Adams Wealth Advisors LLC Grows Holdings in Chevron Co. (NYSE:CVX)

Moss Adams Wealth Advisors LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 14.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,190 shares of the oil and gas company’s stock after acquiring an additional 779 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Chevron were worth $968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kapstone Financial Advisors LLC lifted its stake in Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after acquiring an additional 211 shares during the period. Eagle Capital Management LLC raised its holdings in shares of Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the last quarter. Lane & Associates LLC bought a new position in Chevron during the first quarter valued at approximately $345,000. Guyasuta Investment Advisors Inc. boosted its holdings in Chevron by 1.7% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after purchasing an additional 3,603 shares during the last quarter. Finally, Seven Mile Advisory grew its position in Chevron by 9.8% in the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX traded up $0.72 on Thursday, hitting $146.04. 2,802,497 shares of the company’s stock traded hands, compared to its average volume of 7,825,400. The company’s 50 day simple moving average is $153.21 and its 200-day simple moving average is $155.89. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market cap of $267.10 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 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 the consensus estimate of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 11.96 EPS for the current year.

Chevron Announces Dividend

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 paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company increased their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note 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 for the company in a research report on Monday, August 5th. Finally, Scotiabank reduced their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

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.