Chevron Co. (NYSE:CVX) Shares Purchased by Smallwood Wealth Investment Management LLC

Smallwood Wealth Investment Management LLC grew its holdings in Chevron Co. (NYSE:CVX) by 3.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,965 shares of the oil and gas company’s stock after buying an additional 159 shares during the period. Chevron accounts for approximately 0.6% of Smallwood Wealth Investment Management LLC’s portfolio, making the stock its 26th largest position. Smallwood Wealth Investment Management LLC’s holdings in Chevron were worth $777,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kapstone Financial Advisors LLC increased its stake in shares of Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after acquiring an additional 211 shares during the period. Eagle Capital Management LLC raised its stake 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 worth $5,435,000 after buying an additional 163 shares in the last quarter. Lane & Associates LLC acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $345,000. Guyasuta Investment Advisors Inc. boosted its stake in shares of Chevron by 1.7% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after buying an additional 3,603 shares in the last quarter. Finally, Seven Mile Advisory grew its holdings in Chevron by 9.8% during the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after acquiring an additional 247 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CVX shares. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company boosted their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Royal Bank of Canada decreased their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Barclays dropped their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Performance

Shares of Chevron stock traded down $1.55 on Tuesday, reaching $146.95. 5,087,108 shares of the company were exchanged, compared to its average volume of 7,785,664. The firm has a market cap of $270.82 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 2.46 and a beta of 1.10. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company’s 50-day moving average is $152.88 and its two-hundred day moving average is $155.79.

Chevron (NYSE:CVX) last posted its earnings results 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 firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the firm earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Chevron 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.