Ramsay Stattman Vela & Price Inc. Boosts Stake in Chevron Co. (NYSE:CVX)

Ramsay Stattman Vela & Price Inc. boosted its stake in Chevron Co. (NYSE:CVX) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,578 shares of the oil and gas company’s stock after acquiring an additional 1,165 shares during the period. Ramsay Stattman Vela & Price Inc.’s holdings in Chevron were worth $5,565,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. American Capital Advisory LLC lifted its stake 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 worth $25,000 after purchasing an additional 125 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at $30,000. Anfield Capital Management LLC increased its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cooksen Wealth LLC acquired a new stake in Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC grew its stake in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CVX shares. Scotiabank reduced their price target 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. Mizuho raised their price objective 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. Truist Financial lowered their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Trading Up 0.4 %

Shares of CVX stock traded up $0.53 during trading hours on Friday, hitting $147.95. 6,414,755 shares of the company were exchanged, compared to its average volume of 7,230,632. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market cap of $272.67 billion, a P/E ratio of 13.61, a P/E/G ratio of 2.50 and a beta of 1.10. The company has a 50 day simple moving average of $152.27 and a two-hundred day simple moving average of $155.65.

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

Chevron Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 4.41%. The ex-dividend date is Monday, August 19th. 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.