Chevron Co. (NYSE:CVX) Shares Purchased by Claro Advisors LLC

Claro Advisors LLC raised its position in Chevron Co. (NYSE:CVX) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,347 shares of the oil and gas company’s stock after acquiring an additional 1,015 shares during the quarter. Claro Advisors LLC’s holdings in Chevron were worth $1,775,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CVX. Eagle Capital Management LLC lifted its holdings 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 buying an additional 163 shares in the last quarter. Lane & Associates LLC purchased a new position in Chevron in the first quarter valued at about $345,000. Seven Mile Advisory grew its stake in Chevron by 9.8% during the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 247 shares in the last quarter. KCM Investment Advisors LLC raised its position in shares of Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. purchased a new position in shares of Chevron during the 4th quarter valued at approximately $391,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Mizuho upped 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. Truist Financial lowered their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Scotiabank reduced their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Price Performance

Chevron stock traded up $0.53 during midday trading on Friday, hitting $147.95. The company’s stock had a trading volume of 6,414,755 shares, compared to its average volume of 7,230,632. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $272.67 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.10. The stock’s 50-day moving average price is $152.27 and its 200-day moving average price is $155.65.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.08 earnings per share. Analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is 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.