Chevron Co. (NYSE:CVX) Stock Holdings Reduced by CapWealth Advisors LLC

CapWealth Advisors LLC reduced its position in Chevron Co. (NYSE:CVX) by 2.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,622 shares of the oil and gas company’s stock after selling 3,853 shares during the quarter. Chevron makes up about 3.4% of CapWealth Advisors LLC’s holdings, making the stock its 6th largest position. CapWealth Advisors LLC’s holdings in Chevron were worth $27,158,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Pacifica Partners Inc. grew its position in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC raised its position in shares of Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC lifted its holdings in shares of Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC boosted its position in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares during the last quarter. Finally, Ellenbecker Investment Group grew its stake in Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Chevron Stock Performance

Shares of NYSE:CVX opened at $140.95 on Friday. 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 capitalization of $257.79 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.50 and a beta of 1.09. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The firm’s 50-day moving average is $151.18 and its 200 day moving average is $155.37.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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 return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 11.86 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.63%. Chevron’s dividend payout ratio (DPR) 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.