Kimelman & Baird LLC Invests $6.72 Million in Chevron Co. (NYSE:CVX)

Kimelman & Baird LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) during the 2nd quarter, HoldingsChannel reports. The fund purchased 42,932 shares of the oil and gas company’s stock, valued at approximately $6,715,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVX. American Capital Advisory LLC lifted its holdings in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron during the fourth quarter valued at $30,000. Anfield Capital Management LLC lifted its stake 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 worth $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Finally, Cooksen Wealth LLC purchased a new position in Chevron during the fourth quarter valued at approximately $40,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $145.49 on Monday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The firm’s 50-day moving average price is $146.63 and its two-hundred day moving average price is $154.31. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $268.13 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.68 and a beta of 1.09.

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

Chevron Dividend Announcement

The company also recently declared 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 4.48%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVX. Barclays decreased their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday. UBS Group dropped their price objective 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, Scotiabank decreased their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average 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.