Creekside Partners Takes $1.39 Million Position in Chevron Co. (NYSE:CVX)

Creekside Partners acquired a new position in Chevron Co. (NYSE:CVX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,894 shares of the oil and gas company’s stock, valued at approximately $1,391,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Brown Financial Advisors acquired a new stake in Chevron in the second quarter worth about $2,329,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Chevron in the 2nd quarter valued at approximately $491,000. Farmers National Bank boosted its stake in Chevron by 0.5% in the 2nd quarter. Farmers National Bank now owns 46,044 shares of the oil and gas company’s stock worth $7,202,000 after purchasing an additional 208 shares in the last quarter. RiverFront Investment Group LLC grew its position in Chevron by 12.6% during the 2nd quarter. RiverFront Investment Group LLC now owns 69,449 shares of the oil and gas company’s stock worth $10,863,000 after purchasing an additional 7,759 shares during the last quarter. Finally, Gibson Wealth Advisors LLC increased its stake in Chevron by 0.7% during the 2nd quarter. Gibson Wealth Advisors LLC now owns 11,248 shares of the oil and gas company’s stock valued at $1,759,000 after purchasing an additional 76 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 1.7 %

CVX stock opened at $149.73 on Wednesday. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm’s fifty day moving average is $146.34 and its 200 day moving average is $154.21. The firm has a market cap of $273.84 billion, a PE ratio of 13.77, a P/E/G ratio of 2.64 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 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 business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the business earned $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 11.02 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.35%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVX. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. 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. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Scotiabank decreased their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $180.00.

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.