Brown Brothers Harriman & Co. Grows Stake in Chevron Co. (NYSE:CVX)

Brown Brothers Harriman & Co. boosted its holdings in Chevron Co. (NYSE:CVX) by 5.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,299 shares of the oil and gas company’s stock after purchasing an additional 2,385 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Chevron were worth $7,555,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. American Capital Advisory LLC increased its position in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter worth approximately $30,000. Anfield Capital Management LLC lifted its holdings in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Cooksen Wealth LLC purchased a new position in Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC raised its position in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVX. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday. Scotiabank reduced their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada lowered their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Truist Financial dropped their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $182.88.

Chevron Price Performance

CVX opened at $142.11 on Tuesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70. The company’s 50 day simple moving average is $148.88 and its 200 day simple moving average is $154.68. The stock has a market capitalization of $259.91 billion, a PE ratio of 13.07, a P/E/G ratio of 2.41 and a beta of 1.09. 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 posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $3.08 EPS. As a group, sell-side analysts expect that Chevron Co. will post 11.57 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.59%. Chevron’s dividend payout ratio (DPR) 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.