Chevron Co. (NYSE:CVX) Stock Holdings Lifted by Old Port Advisors

Old Port Advisors raised its stake in Chevron Co. (NYSE:CVXGet Rating) by 16.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 17,963 shares of the oil and gas company’s stock after acquiring an additional 2,593 shares during the period. Chevron accounts for approximately 1.0% of Old Port Advisors’ holdings, making the stock its 29th biggest position. Old Port Advisors’ holdings in Chevron were worth $2,563,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CVX. Vanguard Group Inc. raised its stake in Chevron by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 167,767,288 shares of the oil and gas company’s stock valued at $27,317,547,000 after purchasing an additional 4,367,157 shares during the period. Norges Bank acquired a new position in shares of Chevron in the fourth quarter worth $3,111,594,000. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock worth $2,393,138,000 after acquiring an additional 189,762 shares during the last quarter. Invesco Ltd. increased its stake in shares of Chevron by 6.8% in the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock worth $1,689,870,000 after acquiring an additional 917,773 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Chevron by 17.3% in the first quarter. Dimensional Fund Advisors LP now owns 9,763,275 shares of the oil and gas company’s stock worth $1,589,915,000 after acquiring an additional 1,437,047 shares during the last quarter. Institutional investors own 69.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVX shares. Cowen upped their price target on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Truist Financial dropped their price target on shares of Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a research note on Tuesday, July 19th. Wells Fargo & Company upped their price target on shares of Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, August 1st. Bank of America upped their price objective on shares of Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Finally, Morgan Stanley upped their price objective on shares of Chevron from $187.00 to $193.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $169.20.

Chevron Stock Down 2.6 %

NYSE CVX opened at $156.45 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31. The firm has a 50-day simple moving average of $154.36 and a 200 day simple moving average of $160.41. Chevron Co. has a twelve month low of $93.31 and a twelve month high of $182.40. The stock has a market cap of $307.39 billion, a PE ratio of 10.44, a PEG ratio of 0.60 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last released its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The business had revenue of $68.76 billion during the quarter, compared to analysts’ expectations of $57.69 billion. During the same quarter last year, the company earned $1.71 earnings per share. The firm’s revenue was up 82.9% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 18.4 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.63%. The ex-dividend date was Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Insider Buying and Selling

In related news, EVP James William Johnson sold 85,300 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the sale, the director now directly owns 3,560 shares of the company’s stock, valued at approximately $574,762. The disclosure for this sale can be found here. Insiders sold 141,732 shares of company stock valued at $23,024,499 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Chevron Profile

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

See Also

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXGet Rating).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.