Lmcg Investments LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Lmcg Investments LLC raised its stake in Chevron Co. (NYSE:CVX) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,218 shares of the oil and gas company’s stock after acquiring an additional 10,054 shares during the period. Chevron makes up 1.3% of Lmcg Investments LLC’s portfolio, making the stock its 14th biggest position. Lmcg Investments LLC’s holdings in Chevron were worth $22,089,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eagle Capital Management LLC increased its holdings in shares of Chevron by 0.5% in 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 buying an additional 163 shares during the last quarter. Lane & Associates LLC purchased a new position in Chevron during the first quarter valued at approximately $345,000. Seven Mile Advisory lifted 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 last quarter. KCM Investment Advisors LLC boosted its position in Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Finally, Livelsberger Financial Advisory bought a new stake in shares of Chevron in the 4th quarter valued at about $46,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CVX shares. Sanford C. Bernstein downgraded 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. Truist Financial reduced their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank lowered their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. 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, Chevron has an average rating of “Moderate Buy” and a consensus target price of $182.88.

Chevron Price Performance

Shares of CVX stock opened at $142.11 on Tuesday. The firm’s 50 day moving average price is $148.88 and its two-hundred day moving average price is $154.68. 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 stock has a market cap of $259.91 billion, a PE ratio of 13.07, a PEG ratio of 2.41 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.08 earnings per share. As a group, analysts forecast that Chevron Co. will post 11.57 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

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.