Fielder Capital Group LLC Has $2.72 Million Stake in Chevron Co. (NYSE:CVX)

Fielder Capital Group LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,371 shares of the oil and gas company’s stock after buying an additional 128 shares during the quarter. Chevron makes up about 1.0% of Fielder Capital Group LLC’s investment portfolio, making the stock its 25th largest holding. Fielder Capital Group LLC’s holdings in Chevron were worth $2,717,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CVX. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the 2nd quarter worth approximately $222,000. Consolidated Portfolio Review Corp lifted its holdings in Chevron by 188.0% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 4,873 shares of the oil and gas company’s stock worth $762,000 after purchasing an additional 3,181 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in Chevron by 11.0% in the 2nd quarter. Drive Wealth Management LLC now owns 7,432 shares of the oil and gas company’s stock worth $1,163,000 after purchasing an additional 739 shares during the last quarter. JPL Wealth Management LLC lifted its holdings in Chevron by 5.8% in the 2nd quarter. JPL Wealth Management LLC now owns 28,050 shares of the oil and gas company’s stock worth $4,388,000 after purchasing an additional 1,550 shares during the last quarter. Finally, Massachusetts Wealth Management lifted its holdings in Chevron by 2.0% in the 2nd quarter. Massachusetts Wealth Management now owns 22,591 shares of the oil and gas company’s stock worth $3,534,000 after purchasing an additional 450 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial dropped their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Scotiabank dropped their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Mizuho boosted their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Wolfe Research assumed coverage on Chevron in a report 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Up 0.4 %

Shares of NYSE:CVX traded up $0.53 during trading on Friday, hitting $147.95. 6,414,755 shares of the company’s stock traded hands, compared to its average volume of 7,230,632. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market cap of $272.67 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.10. The company has a 50-day moving average price of $152.27 and a 200-day moving average price of $155.65.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the firm earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is 59.98%.

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.