Crestwood Advisors Group LLC Raises Holdings in Chevron Co. (NYSE:CVX)

Crestwood Advisors Group LLC raised its position in Chevron Co. (NYSE:CVX) by 0.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 76,861 shares of the oil and gas company’s stock after purchasing an additional 179 shares during the period. Crestwood Advisors Group LLC’s holdings in Chevron were worth $12,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Eukles Asset Management raised its holdings in Chevron by 4.2% in the 2nd quarter. Eukles Asset Management now owns 2,631 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 105 shares during the last quarter. Elevated Capital Advisors LLC purchased a new stake in shares of Chevron in the second quarter valued at approximately $1,076,000. LCM Capital Management Inc increased its holdings in shares of Chevron by 1.2% in the second quarter. LCM Capital Management Inc now owns 8,265 shares of the oil and gas company’s stock valued at $1,293,000 after purchasing an additional 96 shares during the last quarter. Hilltop Partners LLC lifted its position in Chevron by 32.4% during the second quarter. Hilltop Partners LLC now owns 5,206 shares of the oil and gas company’s stock worth $814,000 after buying an additional 1,274 shares in the last quarter. Finally, Cravens & Co Advisors LLC raised its holdings in shares of Chevron by 1.9% during the 2nd quarter. Cravens & Co Advisors LLC now owns 9,881 shares of the oil and gas company’s stock worth $1,546,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $147.95 on Monday. The firm has a 50 day moving average of $152.27 and a two-hundred day moving average of $155.68. The stock has a market capitalization of $272.67 billion, a PE ratio of 13.61, a P/E/G ratio of 2.50 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

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

Chevron Announces Dividend

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 paid 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 dividend yield of 4.41%. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. Barclays cut their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Scotiabank decreased their price target 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. Truist Financial lowered their price target on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Mizuho increased their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.