Delta Financial Advisors LLC Has $3.17 Million Holdings in Chevron Co. (NYSE:CVX)

Delta Financial Advisors LLC increased its holdings in Chevron Co. (NYSE:CVX) by 32.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,231 shares of the oil and gas company’s stock after buying an additional 4,921 shares during the period. Chevron accounts for 1.2% of Delta Financial Advisors LLC’s holdings, making the stock its 21st largest position. Delta Financial Advisors LLC’s holdings in Chevron were worth $3,165,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CVX. Chris Bulman Inc bought a new stake in Chevron during the second quarter worth about $76,000. Strategic Financial Concepts LLC raised its position in shares of Chevron by 4,325.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 258,043 shares of the oil and gas company’s stock valued at $404,000 after buying an additional 252,212 shares in the last quarter. Umpqua Bank lifted its holdings in shares of Chevron by 5.7% during the 2nd quarter. Umpqua Bank now owns 19,827 shares of the oil and gas company’s stock worth $3,101,000 after acquiring an additional 1,078 shares during the period. Norden Group LLC boosted its position in shares of Chevron by 16.2% during the 2nd quarter. Norden Group LLC now owns 16,308 shares of the oil and gas company’s stock worth $2,551,000 after acquiring an additional 2,277 shares in the last quarter. Finally, Parcion Private Wealth LLC increased its stake in Chevron by 1.3% in the second quarter. Parcion Private Wealth LLC now owns 45,381 shares of the oil and gas company’s stock valued at $7,099,000 after acquiring an additional 566 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CVX shares. Mizuho lifted their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial dropped their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Barclays decreased their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Scotiabank dropped their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Down 1.7 %

Shares of CVX opened at $138.56 on Friday. The company has a market capitalization of $253.42 billion, a PE ratio of 12.75, a PEG ratio of 2.40 and a beta of 1.09. The stock’s 50-day moving average price is $150.82 and its two-hundred day moving average price is $155.26. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $137.87 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last released its 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 net margin of 9.31% and a return on equity of 13.70%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.08 EPS. On average, analysts anticipate that Chevron Co. will post 11.86 EPS for the current year.

Chevron Dividend Announcement

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

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.