Oppenheimer & Co. Inc. Acquires 6,254 Shares of Chevron Co. (NYSE:CVX)

Oppenheimer & Co. Inc. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 3.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 181,198 shares of the oil and gas company’s stock after purchasing an additional 6,254 shares during the period. Oppenheimer & Co. Inc.’s holdings in Chevron were worth $28,343,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Pacifica Partners Inc. grew its stake in Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC grew its stake in Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC boosted its holdings in Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC boosted its holdings in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group boosted its holdings in Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $139.22 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $254.62 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.37 and a beta of 1.09. The stock has a 50 day moving average of $149.40 and a 200 day moving average of $154.81. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last issued 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 business had revenue of $51.18 billion for 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 business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.08 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 11.63 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. Truist Financial cut their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays cut their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada cut their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $183.82.

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.