Chevron Co. (NYSE:CVX) Shares Sold by Waters Parkerson & CO. LLC

Waters Parkerson & CO. LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,819 shares of the oil and gas company’s stock after selling 618 shares during the period. Chevron comprises approximately 2.5% of Waters Parkerson & CO. LLC’s holdings, making the stock its 12th biggest holding. Waters Parkerson & CO. LLC’s holdings in Chevron were worth $46,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Bridges Investment Management Inc. lifted its position in shares of Chevron by 76.7% in the second quarter. Bridges Investment Management Inc. now owns 151,947 shares of the oil and gas company’s stock valued at $23,768,000 after acquiring an additional 65,960 shares in the last quarter. Callan Capital LLC lifted its holdings in Chevron by 105.3% in the 2nd quarter. Callan Capital LLC now owns 4,953 shares of the oil and gas company’s stock valued at $775,000 after purchasing an additional 2,541 shares in the last quarter. Joseph Group Capital Management boosted its stake in shares of Chevron by 5.0% during the 2nd quarter. Joseph Group Capital Management now owns 13,301 shares of the oil and gas company’s stock worth $2,081,000 after purchasing an additional 638 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Chevron by 10.4% during the second quarter. Benjamin Edwards Inc. now owns 29,135 shares of the oil and gas company’s stock worth $4,557,000 after buying an additional 2,740 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Chevron by 8.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 118,532 shares of the oil and gas company’s stock valued at $18,541,000 after buying an additional 9,648 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays lowered their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $182.41.

Chevron Stock Up 0.7 %

Shares of Chevron stock opened at $144.98 on Friday. The company has a fifty day moving average price of $148.26 and a 200 day moving average price of $154.47. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The stock has a market cap of $267.19 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its 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). The company had revenue of $51.18 billion during 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 quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.08 EPS. Equities research analysts forecast that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.50%. Chevron’s dividend payout ratio is currently 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.