Osher Van de Voorde Investment Management Has $17.45 Million Stake in Chevron Co. (NYSE:CVX)

Osher Van de Voorde Investment Management lessened its position in shares of Chevron Co. (NYSE:CVX) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,536 shares of the oil and gas company’s stock after selling 385 shares during the period. Chevron comprises 4.0% of Osher Van de Voorde Investment Management’s holdings, making the stock its 13th largest position. Osher Van de Voorde Investment Management’s holdings in Chevron were worth $17,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Keudell Morrison Wealth Management grew its position in Chevron by 3.0% in the second quarter. Keudell Morrison Wealth Management now owns 15,525 shares of the oil and gas company’s stock valued at $2,428,000 after purchasing an additional 457 shares in the last quarter. TruWealth Advisors LLC raised its holdings in Chevron by 4.5% during the second quarter. TruWealth Advisors LLC now owns 107,937 shares of the oil and gas company’s stock worth $16,883,000 after acquiring an additional 4,669 shares in the last quarter. Moseley Investment Management Inc. boosted its position in Chevron by 1.3% during the second quarter. Moseley Investment Management Inc. now owns 10,796 shares of the oil and gas company’s stock valued at $1,689,000 after purchasing an additional 142 shares during the last quarter. Capital Advisors Wealth Management LLC increased its position in shares of Chevron by 7.0% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 16,501 shares of the oil and gas company’s stock worth $2,581,000 after purchasing an additional 1,077 shares during the last quarter. Finally, IAG Wealth Partners LLC raised its stake in shares of Chevron by 25.3% during the 2nd quarter. IAG Wealth Partners LLC now owns 2,276 shares of the oil and gas company’s stock worth $356,000 after purchasing an additional 459 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Trading Up 1.5 %

Chevron stock traded up $2.13 during trading hours on Thursday, hitting $146.80. The stock had a trading volume of 6,091,615 shares, compared to its average volume of 7,887,742. The business’s 50 day simple moving average is $154.18 and its 200-day simple moving average is $156.00. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The stock has a market cap of $270.55 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 2.42 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 (NYSE:CVX) last issued its quarterly earnings data 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 business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the business earned $3.08 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The business 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 dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Wells Fargo & Company raised their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Scotiabank reduced their target price 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. HSBC lifted their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Truist Financial reduced their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Finally, Mizuho boosted their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Company 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.