Plato Investment Management Ltd Buys 1,854 Shares of Chevron Co. (NYSE:CVX)

Plato Investment Management Ltd grew its stake in shares of Chevron Co. (NYSE:CVX) by 4.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 43,268 shares of the oil and gas company’s stock after purchasing an additional 1,854 shares during the period. Chevron comprises approximately 0.6% of Plato Investment Management Ltd’s portfolio, making the stock its 27th biggest position. Plato Investment Management Ltd’s holdings in Chevron were worth $6,768,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Providence Wealth Advisors LLC boosted its stake in shares of Chevron by 0.8% in the 2nd quarter. Providence Wealth Advisors LLC now owns 13,963 shares of the oil and gas company’s stock worth $2,185,000 after buying an additional 111 shares during the last quarter. Mystic Asset Management Inc. boosted its stake in shares of Chevron by 0.7% in the 2nd quarter. Mystic Asset Management Inc. now owns 19,819 shares of the oil and gas company’s stock worth $3,100,000 after buying an additional 132 shares during the last quarter. Hanson & Doremus Investment Management boosted its stake in shares of Chevron by 5.8% in the 2nd quarter. Hanson & Doremus Investment Management now owns 4,431 shares of the oil and gas company’s stock worth $693,000 after buying an additional 242 shares during the last quarter. Wilkins Investment Counsel Inc. boosted its stake in shares of Chevron by 11.5% in the 2nd quarter. Wilkins Investment Counsel Inc. now owns 16,515 shares of the oil and gas company’s stock worth $2,583,000 after buying an additional 1,700 shares during the last quarter. Finally, Diversify Wealth Management LLC purchased a new position in shares of Chevron in the 2nd quarter worth approximately $2,593,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CVX shares. Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Barclays cut their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Scotiabank dropped their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Trading Up 1.0 %

Chevron stock opened at $140.61 on Friday. The stock has a market cap of $257.16 billion, a P/E ratio of 12.94, a PEG ratio of 2.37 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70. The firm’s fifty day moving average price is $149.12 and its 200-day moving average price is $154.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last released 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). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.08 EPS. Equities research analysts forecast that Chevron Co. will post 11.63 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.64%. Chevron’s 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.