Great Lakes Advisors LLC Boosts Stake in Chevron Co. (NYSE:CVX)

Great Lakes Advisors LLC raised its holdings in Chevron Co. (NYSE:CVX) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,012 shares of the oil and gas company’s stock after acquiring an additional 15,773 shares during the period. Great Lakes Advisors LLC’s holdings in Chevron were worth $38,950,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eagle Capital Management LLC raised its position in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares in the last quarter. Lane & Associates LLC purchased a new position in shares of Chevron in the 1st quarter worth about $345,000. Seven Mile Advisory increased its position 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 valued at $413,000 after purchasing an additional 247 shares during the last quarter. KCM Investment Advisors LLC raised its holdings in shares of Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares in the last quarter. Finally, Livelsberger Financial Advisory bought a new stake in Chevron in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho raised their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Barclays dropped their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada cut their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Scotiabank lowered their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Down 1.7 %

CVX traded down $2.37 during midday trading on Friday, reaching $138.56. The company’s stock had a trading volume of 7,836,358 shares, compared to its average volume of 7,768,067. The stock’s 50-day moving average is $150.82 and its 200-day moving average is $155.26. Chevron Co. has a 1 year low of $137.87 and a 1 year high of $171.70. The firm has a market capitalization of $255.36 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 2.50 and a beta of 1.09. 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) 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 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 for the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the business earned $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 11.86 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Monday, August 19th. 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.