Chevron Co. (NYSE:CVX) Shares Purchased by McGinn Penninger Investment Management Inc.

McGinn Penninger Investment Management Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,818 shares of the oil and gas company’s stock after acquiring an additional 540 shares during the period. Chevron comprises approximately 3.1% of McGinn Penninger Investment Management Inc.’s portfolio, making the stock its 15th largest position. McGinn Penninger Investment Management Inc.’s holdings in Chevron were worth $4,508,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Eagle Capital Management LLC increased its holdings in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares during the last quarter. Lane & Associates LLC purchased a new position in shares of Chevron in the 1st quarter valued at about $345,000. KCM Investment Advisors LLC increased its holdings in shares of Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after acquiring an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the 4th quarter worth about $46,000. Finally, Hosking Partners LLP purchased a new stake in Chevron during the first quarter worth approximately $4,924,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.2 %

Shares of CVX stock opened at $147.27 on Tuesday. The business’s fifty day moving average price is $146.43 and its 200 day moving average price is $154.25. The firm has a market capitalization of $271.41 billion, a PE ratio of 13.55, a P/E/G ratio of 2.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17.

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 analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.43%. Chevron’s dividend payout ratio is presently 59.98%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial decreased their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday. Finally, Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.00.

About Chevron

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.