Leelyn Smith LLC Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Leelyn Smith LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,250 shares of the oil and gas company’s stock after selling 213 shares during the period. Leelyn Smith LLC’s holdings in Chevron were worth $2,385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth $2,902,007,000. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Capital World Investors grew its holdings in shares of Chevron by 43.5% during the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the period. Franklin Resources Inc. increased its position in Chevron by 13.0% during the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock worth $2,330,235,000 after purchasing an additional 1,797,171 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in Chevron by 68,604.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock valued at $180,158,000 after buying an additional 1,206,059 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVX. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Scotiabank cut their price objective 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. Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Truist Financial reduced their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Stock Up 1.0 %

Shares of Chevron stock opened at $140.61 on Friday. The business has a 50-day moving average price of $149.12 and a 200 day moving average price of $154.72. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70. The firm has a market cap of $257.16 billion, a P/E ratio of 12.94, a P/E/G ratio of 2.37 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

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 analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.08 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 11.63 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.64%. Chevron’s dividend payout ratio (DPR) 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.