SPC Financial Inc. Has $887,000 Position in Chevron Co. (NYSE:CVX)

SPC Financial Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 23.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,671 shares of the oil and gas company’s stock after acquiring an additional 1,092 shares during the period. SPC Financial Inc.’s holdings in Chevron were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CVX. McGinn Penninger Investment Management Inc. raised its holdings in shares of Chevron by 1.9% during the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 28,818 shares of the oil and gas company’s stock worth $4,508,000 after buying an additional 540 shares in the last quarter. Pathway Financial Advisers LLC grew its position in Chevron by 1.5% in the second quarter. Pathway Financial Advisers LLC now owns 24,614 shares of the oil and gas company’s stock valued at $3,832,000 after acquiring an additional 372 shares during the last quarter. Next Capital Management LLC grew its position in Chevron by 22.9% in the second quarter. Next Capital Management LLC now owns 2,012 shares of the oil and gas company’s stock valued at $315,000 after acquiring an additional 375 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in Chevron during the second quarter worth about $266,000. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Chevron by 7.7% in the second quarter. EP Wealth Advisors LLC now owns 111,051 shares of the oil and gas company’s stock worth $17,371,000 after acquiring an additional 7,967 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.2 %

CVX opened at $147.27 on Tuesday. The stock has a market cap of $271.41 billion, a PE ratio of 13.55, a price-to-earnings-growth 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 Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The company has a fifty day moving average of $146.43 and a 200-day moving average of $154.25.

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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during 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 business’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 11.02 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group lowered their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Mizuho lowered their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.00.

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.