Capital Planning Advisors LLC boosted its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,990 shares of the oil and gas company’s stock after purchasing an additional 1,876 shares during the period. Capital Planning Advisors LLC’s holdings in Chevron were worth $4,850,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd grew its position in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares during the period. 10Elms LLP acquired a new stake in shares of Chevron during the 4th quarter worth about $29,000. Navigoe LLC acquired a new stake in Chevron in the 4th quarter worth about $33,000. IFS Advisors LLC raised its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in Chevron in the 1st quarter worth about $39,000. Institutional investors own 72.42% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on CVX. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Scotiabank restated a “sector perform” rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. TD Cowen boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Finally, Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $164.11.
Chevron Stock Up 1.2%
Shares of NYSE CVX opened at $154.98 on Monday. The firm has a market cap of $270.66 billion, a PE ratio of 19.95, a P/E/G ratio of 2.32 and a beta of 0.87. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company’s fifty day simple moving average is $148.45 and its 200 day simple moving average is $148.52. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.
Chevron (NYSE:CVX – Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the firm earned $2.55 earnings per share. Chevron’s revenue was down 12.4% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio is currently 88.03%.
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.
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