Chevron Co. (NYSE:CVX) Position Raised by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC boosted its position in Chevron Co. (NYSE:CVX) by 2.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,177 shares of the oil and gas company’s stock after purchasing an additional 673 shares during the period. Chevron makes up about 1.4% of Trinity Legacy Partners LLC’s portfolio, making the stock its 28th largest holding. Trinity Legacy Partners LLC’s holdings in Chevron were worth $4,877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Capital Advisory LLC grew its holdings in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron in the 4th quarter worth approximately $30,000. Anfield Capital Management LLC raised its holdings in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC bought a new stake in Chevron during the fourth quarter worth approximately $40,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 0.1 %

Shares of NYSE:CVX opened at $147.45 on Wednesday. The firm has a fifty day moving average of $147.64 and a two-hundred day moving average of $154.50. 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 12-month low of $135.37 and a 12-month high of $171.70. The firm has a market capitalization of $269.67 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

Chevron (NYSE:CVX) last released 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 firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the business posted $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Dividend Announcement

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. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.42%. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial cut their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. 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. UBS Group dropped their price target on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.