Chevron Co. (NYSE:CVX) Stake Boosted by Quilter Plc

Quilter Plc boosted its stake in shares of Chevron Co. (NYSE:CVX) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 448,941 shares of the oil and gas company’s stock after buying an additional 12,180 shares during the period. Chevron comprises 1.6% of Quilter Plc’s investment portfolio, making the stock its 24th largest holding. Quilter Plc’s holdings in Chevron were worth $70,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. American Capital Advisory LLC grew its holdings in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter worth about $30,000. Anfield Capital Management LLC grew its stake in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cooksen Wealth LLC acquired a new position in shares of Chevron in the 4th quarter valued at about $40,000. Finally, Clear Investment Research LLC lifted its position in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 1.0 %

Shares of NYSE:CVX opened at $140.61 on Friday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $259.14 billion, a P/E ratio of 12.94, a P/E/G ratio of 2.37 and a beta of 1.09. The stock’s 50-day moving average is $149.12 and its 200-day moving average is $154.73.

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 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 business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the firm earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 11.63 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVX. Truist Financial dropped their price objective 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 cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Barclays reduced their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.