Weaver C. Barksdale & Associates Inc. Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Weaver C. Barksdale & Associates Inc. boosted its stake in Chevron Co. (NYSE:CVX) by 12.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 12,387 shares of the oil and gas company’s stock after acquiring an additional 1,411 shares during the period. Chevron makes up approximately 1.8% of Weaver C. Barksdale & Associates Inc.’s portfolio, making the stock its 22nd largest position. Weaver C. Barksdale & Associates Inc.’s holdings in Chevron were worth $1,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Capital Advisory LLC raised its position in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Chevron in the 4th quarter worth approximately $30,000. Anfield Capital Management LLC raised its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the last quarter. Cooksen Wealth LLC purchased a new position in shares of Chevron during the 4th quarter worth $40,000. Finally, Clear Investment Research LLC boosted its holdings 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 purchasing an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVX shares. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group decreased their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays lowered their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.41.

Chevron Stock Up 0.7 %

NYSE CVX opened at $144.98 on Friday. The stock has a market cap of $267.19 billion, a PE ratio of 13.34, a P/E/G ratio of 2.48 and a beta of 1.09. The business has a 50 day moving average price of $148.26 and a two-hundred day moving average price of $154.47. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.08 EPS. As a group, sell-side analysts predict that Chevron Co. will post 11.48 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Monday, August 19th. 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.