Legacy Advisors LLC Increases Position in Chevron Co. (NYSE:CVX)

Legacy Advisors LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 2.3% in the second quarter, HoldingsChannel reports. The firm owned 19,373 shares of the oil and gas company’s stock after buying an additional 438 shares during the period. Legacy Advisors LLC’s holdings in Chevron were worth $3,030,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CVX. American Capital Advisory LLC boosted its holdings in shares of Chevron by 403.2% in the 1st 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. Bare Financial Services Inc acquired a new stake in Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC purchased a new position in Chevron in the fourth quarter worth $30,000. Cooksen Wealth LLC acquired a new position in shares of Chevron during the fourth quarter worth $40,000. Finally, Clear Investment Research LLC lifted its holdings in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Barclays lowered their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Mizuho upped their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Trading Up 0.4 %

Shares of Chevron stock opened at $147.95 on Friday. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. 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 firm’s 50-day moving average price is $152.27 and its 200 day moving average price is $155.61. The firm has a market capitalization of $270.59 billion, a PE ratio of 13.61, a P/E/G ratio of 2.50 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the company earned $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. Chevron’s payout ratio is 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.