Private Advisor Group LLC Increases Position in Chevron Co. (NYSE:CVX)

Private Advisor Group LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 6.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 243,804 shares of the oil and gas company’s stock after acquiring an additional 14,728 shares during the period. Private Advisor Group LLC’s holdings in Chevron were worth $38,090,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. International Assets Investment Management LLC grew its position in shares of 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 in the last quarter. Gilbert & Cook Inc. increased its holdings in shares of Chevron by 3.7% in the 4th quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after acquiring an additional 369 shares during the period. Aveo Capital Partners LLC raised its position in shares of Chevron by 1.0% in the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock worth $1,285,000 after acquiring an additional 82 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of Chevron by 55.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after purchasing an additional 4,047 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in Chevron by 160.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 13,883 shares of the oil and gas company’s stock valued at $2,071,000 after purchasing an additional 8,558 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $138.48 on Friday. The company has a market capitalization of $255.21 billion, a P/E ratio of 12.74, a P/E/G ratio of 2.50 and a beta of 1.09. The business’s 50-day moving average is $150.82 and its two-hundred day moving average is $155.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a fifty-two week low of $137.87 and a fifty-two week high of $171.70.

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

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analysts Set New Price Targets

Several analysts have commented on CVX shares. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada lowered their target price 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. Mizuho upped their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Scotiabank decreased their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.82.

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.