Scientech Research LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Scientech Research LLC raised its holdings in Chevron Co. (NYSE:CVX) by 132.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,003 shares of the oil and gas company’s stock after acquiring an additional 2,849 shares during the period. Scientech Research LLC’s holdings in Chevron were worth $783,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CVX. Legal & General Group Plc boosted its position in shares of Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after acquiring an additional 629,644 shares during the last quarter. Marathon Capital Management raised its stake in Chevron by 0.8% during the second quarter. Marathon Capital Management now owns 63,513 shares of the oil and gas company’s stock worth $9,935,000 after purchasing an additional 481 shares during the period. MBB Public Markets I LLC boosted its holdings in shares of Chevron by 2,806.8% in the 2nd quarter. MBB Public Markets I LLC now owns 124,820 shares of the oil and gas company’s stock valued at $19,524,000 after purchasing an additional 120,526 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in shares of Chevron by 2.6% during the 2nd quarter. Daymark Wealth Partners LLC now owns 193,001 shares of the oil and gas company’s stock valued at $30,189,000 after buying an additional 4,855 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Chevron in the 2nd quarter worth $244,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $145.49 on Friday. The stock’s 50 day moving average is $146.63 and its two-hundred day moving average is $154.31. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70. The company has a market capitalization of $266.09 billion, a PE ratio of 13.38, a P/E/G ratio of 2.68 and a beta of 1.09. 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 (NYSE:CVX) last issued its quarterly 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the firm posted $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts predict that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.48%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CVX shares. UBS Group lowered their price target on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Barclays decreased 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. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial decreased their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Finally, Royal Bank of Canada cut their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.24.

Chevron Company 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.