Chevron Co. (NYSE:CVX) Shares Bought by Richardson Financial Services Inc.

Richardson Financial Services Inc. grew its position in Chevron Co. (NYSE:CVX) by 15.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,381 shares of the oil and gas company’s stock after acquiring an additional 314 shares during the period. Richardson Financial Services Inc.’s holdings in Chevron were worth $372,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CVX. Berkshire Hathaway Inc boosted its position in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Capital World Investors lifted its position in shares of Chevron by 43.5% during the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after buying an additional 4,700,289 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after acquiring an additional 3,048,819 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in Chevron by 68,604.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock worth $180,158,000 after acquiring an additional 1,206,059 shares in the last quarter. Finally, Wulff Hansen & CO. raised its position in Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after acquiring an additional 1,168,137 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Chevron stock opened at $143.96 on Thursday. The stock has a market cap of $263.29 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $148.47 and a 200-day simple moving average of $154.54.

Chevron (NYSE:CVX) last announced its quarterly 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 analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.08 earnings per share. On average, analysts expect that Chevron Co. will post 11.57 EPS for the current year.

Chevron Announces Dividend

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. This represents a $6.52 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of several research analyst reports. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial lowered their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Scotiabank reduced their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $182.41.

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.