Worth Financial Advisory Group LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Worth Financial Advisory Group LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 9.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,724 shares of the oil and gas company’s stock after buying an additional 242 shares during the period. Worth Financial Advisory Group LLC’s holdings in Chevron were worth $426,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. American Capital Advisory LLC raised its position in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Bare Financial Services Inc acquired a new stake in shares of Chevron in the fourth quarter valued at about $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $30,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $40,000. Finally, Clear Investment Research LLC raised its position in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CVX shares. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays dropped their price objective 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. HSBC upped their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Wells Fargo & Company upped their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada dropped their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Price Performance

Shares of NYSE:CVX traded down $1.55 during midday trading on Tuesday, hitting $146.95. 5,087,108 shares of the stock were exchanged, compared to its average volume of 7,785,664. The stock has a market cap of $270.82 billion, a P/E ratio of 13.52, a PEG ratio of 2.46 and a beta of 1.10. 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 Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a 50 day moving average price of $152.88 and a 200-day moving average price of $155.79.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates 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 EPS. On average, research analysts forecast that Chevron Co. will post 11.96 earnings per share for the current 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 $1.63 dividend. 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 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.