Diversified LLC Has $859,000 Holdings in Chevron Co. (NYSE:CVX)

Diversified LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 28.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,490 shares of the oil and gas company’s stock after acquiring an additional 1,221 shares during the period. Diversified LLC’s holdings in Chevron were worth $859,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kapstone Financial Advisors LLC boosted its position in shares of Chevron by 5.3% in the fourth 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 grew its position in Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the last quarter. Lane & Associates LLC acquired a new position in shares of Chevron during the first quarter valued at about $345,000. Guyasuta Investment Advisors Inc. grew its holdings in shares of Chevron by 1.7% during the 4th 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 in the last quarter. Finally, Seven Mile Advisory lifted its position in Chevron by 9.8% in the fourth 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. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 1.3 %

CVX stock traded up $1.95 during trading hours on Friday, reaching $147.68. 4,820,702 shares of the stock were exchanged, compared to its average volume of 7,814,477. The company has a market cap of $272.17 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.46 and a beta of 1.10. The firm’s 50-day moving average is $152.97 and its 200-day moving average is $155.78. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. 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 (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 for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $3.08 EPS. On average, equities research analysts expect 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 issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of research analysts have commented on CVX shares. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank cut their price target 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. Truist Financial lowered their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Mizuho increased their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Royal Bank of Canada dropped their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

About Chevron

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.