Financial Counselors Inc. lessened its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 8.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 278,805 shares of the oil and gas company’s stock after selling 27,178 shares during the period. Financial Counselors Inc.’s holdings in Chevron were worth $43,611,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Pacifica Partners Inc. increased its position in shares of Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC raised its stake in shares of Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after acquiring an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC boosted its holdings in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC grew its position in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares during the last quarter. Finally, Marks Group Wealth Management Inc increased its holdings in Chevron by 3.1% during the 1st quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock valued at $339,000 after purchasing an additional 65 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have commented on CVX shares. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Finally, Scotiabank dropped their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.82.
Chevron Stock Performance
Shares of CVX opened at $147.95 on Monday. The stock has a market capitalization of $272.67 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.50 and a beta of 1.10. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The firm has a fifty day simple moving average of $152.27 and a 200 day simple moving average of $155.68. 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 (NYSE:CVX – Get Free Report) 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). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $3.08 earnings per share. Research analysts forecast that Chevron Co. will post 11.86 EPS for the current fiscal year.
Chevron Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid 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 yield of 4.41%. Chevron’s dividend 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.
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