Regal Partners Ltd Acquires New Shares in Chevron Co. (NYSE:CVX)

Regal Partners Ltd bought a new position in Chevron Co. (NYSE:CVX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 27,407 shares of the oil and gas company’s stock, valued at approximately $4,287,000.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Chevron by 4.9% during the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after buying an additional 1,005 shares during the period. Gilbert & Cook Inc. lifted its holdings in shares of Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after purchasing an additional 369 shares during the period. Aveo Capital Partners LLC grew its stake in shares of Chevron by 1.0% in the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock worth $1,285,000 after purchasing an additional 82 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Chevron in the fourth quarter valued at $272,000. Finally, Aviance Capital Partners LLC raised its position in Chevron by 5.9% during the 4th quarter. Aviance Capital Partners LLC now owns 5,165 shares of the oil and gas company’s stock worth $770,000 after purchasing an additional 289 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Barclays decreased their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Truist Financial decreased 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. Royal Bank of Canada dropped their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Trading Down 2.2 %

NYSE CVX opened at $144.66 on Wednesday. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The business has a 50 day moving average price of $151.77 and a 200-day moving average price of $155.56. 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 cap of $264.57 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last announced 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the firm posted $3.08 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 annualized dividend and a yield of 4.51%. Chevron’s payout ratio is 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.