Chevron Co. (NYSE:CVX) Stake Boosted by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 4,325.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,043 shares of the oil and gas company’s stock after purchasing an additional 252,212 shares during the quarter. Strategic Financial Concepts LLC’s holdings in Chevron were worth $404,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Umpqua Bank boosted its holdings in shares of Chevron by 5.7% in the 2nd quarter. Umpqua Bank now owns 19,827 shares of the oil and gas company’s stock valued at $3,101,000 after buying an additional 1,078 shares during the period. Norden Group LLC grew its holdings in shares of Chevron by 16.2% during the second quarter. Norden Group LLC now owns 16,308 shares of the oil and gas company’s stock valued at $2,551,000 after purchasing an additional 2,277 shares during the last quarter. Parcion Private Wealth LLC grew its holdings in shares of Chevron by 1.3% during the second quarter. Parcion Private Wealth LLC now owns 45,381 shares of the oil and gas company’s stock valued at $7,099,000 after purchasing an additional 566 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Chevron by 0.5% in the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 27,740 shares of the oil and gas company’s stock worth $4,339,000 after purchasing an additional 149 shares during the last quarter. Finally, Motiv8 Investments LLC boosted its position in Chevron by 1.8% during the 2nd quarter. Motiv8 Investments LLC now owns 5,328 shares of the oil and gas company’s stock valued at $833,000 after purchasing an additional 93 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.3 %

CVX opened at $140.30 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market capitalization of $256.60 billion, a PE ratio of 12.91, a P/E/G ratio of 2.34 and a beta of 1.09. The stock’s fifty day moving average is $150.50 and its 200-day moving average is $155.16. Chevron Co. has a one year low of $137.87 and a one year high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the firm posted $3.08 earnings per share. Chevron’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.65%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVX. 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. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Mizuho raised their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Barclays cut their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. 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.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Company 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.