Waterloo Capital L.P. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Waterloo Capital L.P. grew its holdings in Chevron Co. (NYSE:CVX) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,542 shares of the oil and gas company’s stock after acquiring an additional 300 shares during the period. Waterloo Capital L.P.’s holdings in Chevron were worth $1,180,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Pacifica Partners Inc. lifted its stake in Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC lifted its stake in Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC lifted its stake in Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group raised its holdings in Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after purchasing an additional 65 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. Truist Financial cut their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. UBS Group cut their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Barclays cut their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

Chevron Stock Performance

Shares of CVX opened at $143.96 on Thursday. 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 stock has a market capitalization of $263.29 billion, a P/E ratio of 13.24, a P/E/G ratio of 2.41 and a beta of 1.09. The company’s fifty day moving average is $148.47 and its two-hundred day moving average is $154.54. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.08 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.53%. Chevron’s dividend payout ratio is currently 59.98%.

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.