Advisors Management Group Inc. ADV Decreases Stake in Chevron Co. (NYSE:CVX)

Advisors Management Group Inc. ADV lessened its stake in Chevron Co. (NYSE:CVX) by 0.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 21,464 shares of the oil and gas company’s stock after selling 106 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Chevron were worth $3,357,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. International Assets Investment Management LLC boosted its stake in shares of Chevron by 4.9% in the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock valued at $3,202,000 after buying an additional 1,005 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. lifted its stake in Chevron by 796.5% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 15,599 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 13,859 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after purchasing an additional 369 shares during the last quarter. Aveo Capital Partners LLC lifted its stake in Chevron by 1.0% during the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock worth $1,285,000 after purchasing an additional 82 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Chevron by 70.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 115,887 shares of the oil and gas company’s stock worth $17,286,000 after purchasing an additional 47,910 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CVX shares. Truist Financial decreased their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Scotiabank decreased their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Mizuho boosted their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Royal Bank of Canada decreased their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Stock Performance

Shares of NYSE:CVX traded up $0.53 during trading on Friday, reaching $147.95. The company had a trading volume of 6,414,755 shares, compared to its average volume of 7,744,871. The firm has a market capitalization of $272.67 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock’s fifty day moving average price is $152.27 and its 200 day moving average price is $155.61. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last announced 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 return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the company earned $3.08 EPS. The company’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that Chevron Co. will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is presently 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.