Chevron Co. (NYSE:CVX) Stake Lifted by Gabelli Funds LLC

Gabelli Funds LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 0.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 369,918 shares of the oil and gas company’s stock after buying an additional 2,900 shares during the period. Gabelli Funds LLC’s holdings in Chevron were worth $58,207,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CVX. Berkeley Capital Partners LLC grew its position in Chevron by 13.1% during the 2nd quarter. Berkeley Capital Partners LLC now owns 14,333 shares of the oil and gas company’s stock worth $2,255,000 after purchasing an additional 1,661 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Chevron by 13.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 79,961 shares of the oil and gas company’s stock worth $12,582,000 after purchasing an additional 9,477 shares in the last quarter. Kooman & Associates grew its position in Chevron by 11.2% during the 2nd quarter. Kooman & Associates now owns 1,568 shares of the oil and gas company’s stock worth $247,000 after purchasing an additional 158 shares in the last quarter. Reuter James Wealth Management LLC grew its position in Chevron by 30.6% during the 2nd quarter. Reuter James Wealth Management LLC now owns 6,659 shares of the oil and gas company’s stock worth $1,048,000 after purchasing an additional 1,561 shares in the last quarter. Finally, Great Lakes Retirement Inc. boosted its stake in shares of Chevron by 0.9% during the 2nd quarter. Great Lakes Retirement Inc. now owns 7,789 shares of the oil and gas company’s stock valued at $1,226,000 after buying an additional 73 shares during the period. 68.87% of the stock is currently owned by institutional investors.

Chevron Price Performance

NYSE CVX traded up $2.69 on Friday, reaching $144.46. The company’s stock had a trading volume of 11,077,904 shares, compared to its average volume of 12,759,151. The firm has a market cap of $272.70 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.73 and a beta of 1.16. The business has a 50-day moving average price of $158.68 and a 200 day moving average price of $158.21. Chevron Co. has a 52 week low of $140.74 and a 52 week high of $187.81. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). The business had revenue of $54.08 billion during the quarter, compared to the consensus estimate of $51.41 billion. Chevron had a net margin of 12.11% and a return on equity of 16.15%. The business’s revenue was down 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.56 EPS. Sell-side analysts expect that Chevron Co. will post 13.59 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $6.04 annualized dividend and a yield of 4.18%. Chevron’s dividend payout ratio is 44.84%.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. HSBC lifted their price objective on shares of Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Mizuho reduced their price objective on shares of Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, November 14th. Sanford C. Bernstein raised shares of Chevron from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $184.00 to $182.00 in a research note on Thursday, November 2nd. BNP Paribas raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $190.00 target price for the company in a research report on Thursday, October 12th. Finally, Morgan Stanley cut their target price on shares of Chevron from $203.00 to $201.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.89.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.