Evergreen Capital Management LLC Raises Position in Chevron Co. (NYSE:CVX)

Evergreen Capital Management LLC raised its stake in Chevron Co. (NYSE:CVX) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,897 shares of the oil and gas company’s stock after purchasing an additional 775 shares during the quarter. Evergreen Capital Management LLC’s holdings in Chevron were worth $6,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. American Capital Advisory LLC raised its stake 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 worth $25,000 after purchasing an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $30,000. Anfield Capital Management LLC grew its holdings in shares of Chevron by 118.0% in the second 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 in the last quarter. Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Finally, Cooksen Wealth LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $40,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays reduced their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada reduced their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Scotiabank reduced their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Sanford C. Bernstein lowered 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. Seven equities 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.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $182.41.

Chevron Trading Up 1.2 %

NYSE CVX opened at $147.50 on Tuesday. The stock’s 50-day simple moving average is $147.85 and its two-hundred day simple moving average is $154.51. 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 company has a market capitalization of $271.84 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the business posted $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Chevron Co. will post 11.48 EPS for the current fiscal year.

Chevron Dividend Announcement

The business 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 4.42%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.