Hollencrest Capital Management Acquires 350 Shares of Chevron Co. (NYSE:CVX)

Hollencrest Capital Management lifted its holdings in Chevron Co. (NYSE:CVX) by 2.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,362 shares of the oil and gas company’s stock after purchasing an additional 350 shares during the quarter. Hollencrest Capital Management’s holdings in Chevron were worth $1,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. American Capital Advisory LLC grew its stake in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in Chevron in the 4th quarter valued at $30,000. Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. Cooksen Wealth LLC bought a new stake in shares of Chevron during the fourth quarter worth $40,000. Finally, Clear Investment Research LLC lifted its stake in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CVX shares. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays lowered their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday. UBS Group lowered 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. Finally, Royal Bank of Canada cut their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $182.41.

Chevron Price Performance

Shares of NYSE CVX opened at $144.98 on Friday. The company has a fifty day moving average price of $148.26 and a 200 day moving average price of $154.47. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The firm has a market cap of $267.19 billion, a PE ratio of 13.34, a PEG ratio of 2.48 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 earnings per share. Research analysts predict that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared 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 of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.50%. Chevron’s payout ratio is currently 59.98%.

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.