Coerente Capital Management Has $3.23 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Coerente Capital Management lowered its position in shares of Chevron Co. (NYSE:CVX) by 5.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,615 shares of the oil and gas company’s stock after selling 1,175 shares during the quarter. Chevron accounts for about 0.6% of Coerente Capital Management’s investment portfolio, making the stock its 24th biggest holding. Coerente Capital Management’s holdings in Chevron were worth $3,225,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Capital Advisory LLC lifted its holdings in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Bare Financial Services Inc bought a new stake in Chevron in the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron in the 4th quarter worth $30,000. Cooksen Wealth LLC bought a new position in Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC boosted its position in shares of Chevron by 264.9% during the fourth 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 period. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada cut their price objective 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 decreased their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. 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. Finally, Mizuho raised their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Trading Up 1.0 %

Shares of Chevron stock opened at $147.44 on Friday. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a market capitalization of $271.73 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 2.46 and a beta of 1.10. The business has a fifty day simple moving average of $152.60 and a two-hundred day simple moving average of $155.70. 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 (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $48.68 billion. During the same period in the prior year, the company earned $3.08 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Chevron Co. will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.42%. The ex-dividend date is Monday, August 19th. 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.