Wescott Financial Advisory Group LLC Has $513,000 Stake in Chevron Co. (NYSE:CVX)

Wescott Financial Advisory Group LLC increased its position in Chevron Co. (NYSE:CVX) by 14.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,277 shares of the oil and gas company’s stock after acquiring an additional 411 shares during the period. Wescott Financial Advisory Group LLC’s holdings in Chevron were worth $513,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Eagle Capital Management LLC increased its position in Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC bought a new stake in Chevron in the 1st quarter valued at $345,000. KCM Investment Advisors LLC boosted its stake in shares of Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Chevron in the 4th quarter valued at $46,000. Finally, Hosking Partners LLP acquired a new stake in shares of Chevron in the 1st quarter valued at $4,924,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CVX shares. Sanford C. Bernstein downgraded shares of 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 research note on Wednesday, July 17th. Wolfe Research initiated coverage on shares of 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 research note on Tuesday, August 6th. Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Royal Bank of Canada lowered their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

Chevron Trading Down 0.1 %

Shares of Chevron stock opened at $147.45 on Wednesday. The business has a fifty day simple moving average of $147.64 and a two-hundred day simple moving average of $154.50. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70. The company has a market capitalization of $269.67 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 2.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.08 EPS. Research analysts forecast that Chevron Co. will post 11.02 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Monday, August 19th. Chevron’s 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.