Altrius Capital Management Inc Buys 1,421 Shares of Chevron Co. (NYSE:CVX)

Altrius Capital Management Inc grew its stake in Chevron Co. (NYSE:CVX) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,192 shares of the oil and gas company’s stock after purchasing an additional 1,421 shares during the quarter. Altrius Capital Management Inc’s holdings in Chevron were worth $4,410,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CVX. Gilbert & Cook Inc. boosted its position in shares of Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after purchasing an additional 369 shares in the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after buying an additional 82 shares in the last quarter. Gryphon Financial Partners LLC grew its position in shares of Chevron by 55.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after buying an additional 4,047 shares during the period. TrinityPoint Wealth LLC increased its stake in shares of Chevron by 6.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock worth $1,588,000 after acquiring an additional 680 shares in the last quarter. Finally, Assetmark Inc. lifted its position in Chevron by 2.4% during the 4th quarter. Assetmark Inc. now owns 118,336 shares of the oil and gas company’s stock valued at $17,651,000 after acquiring an additional 2,825 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Royal Bank of Canada decreased 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. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, UBS Group lowered their price target on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

Chevron Stock Up 0.4 %

CVX opened at $143.96 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $148.47 and a 200-day moving average price of $154.54. The stock has a market capitalization of $263.29 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for 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%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.08 earnings per share. Equities research analysts forecast that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.53%. Chevron’s payout ratio is 59.98%.

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.