Chevron Co. (NYSE:CVX) Shares Acquired by Doheny Asset Management CA

Doheny Asset Management CA lifted its stake in Chevron Co. (NYSE:CVX) by 25.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,155 shares of the oil and gas company’s stock after buying an additional 2,656 shares during the quarter. Chevron makes up 1.6% of Doheny Asset Management CA’s holdings, making the stock its 25th largest position. Doheny Asset Management CA’s holdings in Chevron were worth $2,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Eagle Capital Management LLC grew its stake in shares of Chevron by 0.5% during 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 purchasing an additional 163 shares during the period. Lane & Associates LLC acquired a new stake in shares of Chevron during the 1st quarter worth approximately $345,000. Seven Mile Advisory grew its stake in shares of Chevron by 9.8% during the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 247 shares during the period. KCM Investment Advisors LLC grew its stake in shares of Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after purchasing an additional 8,168 shares during the period. Finally, Livelsberger Financial Advisory acquired a new stake in Chevron in the 4th quarter valued at $46,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 1.3 %

NYSE CVX opened at $140.30 on Tuesday. Chevron Co. has a 52 week low of $137.87 and a 52 week 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 business’s fifty day simple moving average is $150.50 and its 200-day simple moving average is $155.16. The firm has a market cap of $256.60 billion, a PE ratio of 12.91, a P/E/G ratio of 2.34 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. 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 firm earned $3.08 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.65%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Barclays dropped their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Truist Financial dropped their price target 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. 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 note on Monday, August 5th. Finally, Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

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.