Nvest Financial LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Nvest Financial LLC lifted its stake in Chevron Co. (NYSE:CVX) by 6.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,367 shares of the oil and gas company’s stock after purchasing an additional 1,029 shares during the period. Chevron comprises about 1.7% of Nvest Financial LLC’s holdings, making the stock its 16th largest holding. Nvest Financial LLC’s holdings in Chevron were worth $2,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ADE LLC raised its holdings in shares of Chevron by 9.4% in the 2nd quarter. ADE LLC now owns 2,035 shares of the oil and gas company’s stock valued at $318,000 after purchasing an additional 175 shares in the last quarter. Western Wealth Management LLC increased its holdings in Chevron by 3.6% in the second quarter. Western Wealth Management LLC now owns 21,774 shares of the oil and gas company’s stock valued at $3,406,000 after buying an additional 766 shares during the last quarter. Garrett Wealth Advisory Group LLC raised its stake in Chevron by 268.4% in the second quarter. Garrett Wealth Advisory Group LLC now owns 7,920 shares of the oil and gas company’s stock valued at $1,239,000 after buying an additional 5,770 shares in the last quarter. Chapin Davis Inc. lifted its holdings in Chevron by 4.2% during the 2nd quarter. Chapin Davis Inc. now owns 30,261 shares of the oil and gas company’s stock worth $4,733,000 after buying an additional 1,212 shares during the last quarter. Finally, Donald L. Hagan LLC boosted its position in shares of Chevron by 9.5% during the 2nd quarter. Donald L. Hagan LLC now owns 6,702 shares of the oil and gas company’s stock worth $1,048,000 after acquiring an additional 582 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. TD Cowen boosted their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company increased their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. HSBC boosted their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada dropped their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

CVX stock traded down $0.11 on Monday, reaching $147.16. 1,967,134 shares of the company’s stock were exchanged, compared to its average volume of 7,845,469. The stock has a fifty day moving average of $153.82 and a 200-day moving average of $156.02. The firm has a market cap of $271.21 billion, a PE ratio of 13.59, a P/E/G ratio of 2.42 and a beta of 1.10. 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 Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company earned $3.08 EPS. As a group, equities analysts predict that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.43%. Chevron’s payout ratio is 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.