Seven Eight Capital LP Purchases New Holdings in Chevron Co. (NYSE:CVX)

Seven Eight Capital LP acquired a new position in Chevron Co. (NYSE:CVX) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 8,532 shares of the oil and gas company’s stock, valued at approximately $1,335,000.

A number of other institutional investors have also recently bought and sold shares of the business. Eagle Capital Management LLC increased its stake in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC acquired a new stake in Chevron during the first quarter valued at approximately $345,000. KCM Investment Advisors LLC grew its stake in shares of Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the period. Livelsberger Financial Advisory acquired a new position in shares of Chevron in the 4th quarter worth approximately $46,000. Finally, Hosking Partners LLP bought a new position in shares of Chevron during the 1st quarter worth approximately $4,924,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $144.98 on Friday. The firm has a market cap of $267.19 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.48 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $148.26 and a 200 day moving average price of $154.47.

Chevron (NYSE:CVX) last issued its quarterly 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 analyst estimates of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts expect that Chevron Co. will post 11.48 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Barclays lowered their target price 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. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group decreased their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

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.