Bank of Stockton Has $2.75 Million Stake in Chevron Co. (NYSE:CVX)

Bank of Stockton lowered its position in Chevron Co. (NYSE:CVX) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,600 shares of the oil and gas company’s stock after selling 485 shares during the period. Chevron accounts for 0.9% of Bank of Stockton’s portfolio, making the stock its 23rd largest holding. Bank of Stockton’s holdings in Chevron were worth $2,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. American Capital Advisory LLC increased its holdings in shares of 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 last quarter. Bare Financial Services Inc acquired a new position in Chevron during the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $30,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter worth $40,000. Finally, Clear Investment Research LLC boosted its holdings in shares of Chevron by 264.9% during the 4th 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. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CVX shares. 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. Wells Fargo & Company increased their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank reduced their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Barclays lowered 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. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Price Performance

Shares of CVX traded up $1.89 during mid-day trading on Friday, reaching $147.62. The company had a trading volume of 4,824,078 shares, compared to its average volume of 7,814,477. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market capitalization of $272.06 billion, a P/E ratio of 13.58, a P/E/G ratio of 2.46 and a beta of 1.10. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company’s 50-day moving average is $152.97 and its 200-day moving average is $155.81.

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 return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.42%. Chevron’s dividend payout ratio (DPR) 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.