Cidel Asset Management Inc. Increases Holdings in Chevron Co. (NYSE:CVX)

Cidel Asset Management Inc. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,295 shares of the oil and gas company’s stock after acquiring an additional 806 shares during the quarter. Cidel Asset Management Inc.’s holdings in Chevron were worth $3,331,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. American Capital Advisory LLC raised its position in 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 acquiring an additional 125 shares in the last quarter. Bare Financial Services Inc acquired a new stake in shares of Chevron in the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter worth approximately $30,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC lifted its position in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE CVX traded down $1.21 during trading hours on Tuesday, reaching $145.62. The stock had a trading volume of 4,717,533 shares, compared to its average volume of 7,849,983. The firm has a market cap of $268.37 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 2.42 and a beta of 1.10. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm has a 50-day moving average of $153.62 and a 200-day moving average of $156.01.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $3.08 earnings per share. Equities research analysts predict that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CVX shares. TD Cowen lifted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays reduced their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Finally, HSBC lifted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

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.