Strategic Investment Solutions Inc. IL Takes Position in Chevron Co. (NYSE:CVX)

Strategic Investment Solutions Inc. IL purchased a new position in Chevron Co. (NYSE:CVX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,137 shares of the oil and gas company’s stock, valued at approximately $491,000.

Several other large investors also recently modified their holdings of the company. J. W. Coons Advisors LLC increased its position in shares of Chevron by 1.4% during the 4th quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock valued at $1,059,000 after purchasing an additional 100 shares during the last quarter. Capital World Investors grew its position in Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after buying an additional 4,700,289 shares during the period. Tower Research Capital LLC TRC increased its holdings in Chevron by 190.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 223,188 shares of the oil and gas company’s stock valued at $33,291,000 after buying an additional 146,423 shares during the last quarter. Morningstar Investment Management LLC raised its position in Chevron by 9.4% in the fourth quarter. Morningstar Investment Management LLC now owns 7,220 shares of the oil and gas company’s stock worth $1,077,000 after acquiring an additional 621 shares during the period. Finally, Bedell Frazier Investment Counselling LLC raised its position in Chevron by 2.5% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 14,605 shares of the oil and gas company’s stock worth $2,178,000 after acquiring an additional 352 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Royal Bank of Canada cut their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial lowered 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. Finally, UBS Group reduced their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. 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, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.00.

Chevron Stock Performance

CVX opened at $149.73 on Wednesday. The stock has a market capitalization of $273.84 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 2.64 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week 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 company has a fifty day moving average of $146.34 and a 200 day moving average of $154.21.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 firm 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 firm posted $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 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.