Zhang Financial LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 16.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,865 shares of the oil and gas company’s stock after selling 780 shares during the period. Zhang Financial LLC’s holdings in Chevron were worth $481,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guidant Wealth Advisors raised its stake in Chevron by 63.9% in the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 101 shares during the period. Evolution Wealth Advisors LLC bought a new position in shares of Chevron during the second quarter worth approximately $34,000. Cordasco Financial Network increased its stake in shares of Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares during the period. Ironwood Financial llc increased its stake in shares of Chevron by 94.2% during the fourth quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 261 shares during the period. Finally, Thor Advisors LLC bought a new position in shares of Chevron during the first quarter worth approximately $67,000. Institutional investors and hedge funds own 65.64% of the company’s stock.
A number of brokerages have recently weighed in on CVX. Morgan Stanley lowered their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Friday, April 12th. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Citigroup began coverage on Chevron in a research note on Monday, May 13th. They set a “buy” rating and a $135.00 target price on the stock. Finally, Cowen reiterated a “buy” rating and set a $142.00 target price on shares of Chevron in a research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $135.41.
NYSE:CVX traded down $0.02 during trading hours on Tuesday, reaching $118.72. 366,623 shares of the company were exchanged, compared to its average volume of 4,951,011. The firm has a market capitalization of $225.01 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.97 and a beta of 1.00. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.60. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90. The firm has a 50 day moving average of $123.98.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.53. The business had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a return on equity of 9.61% and a net margin of 9.18%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 6.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Friday, August 16th. Chevron’s dividend payout ratio is currently 57.70%.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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