Callan Capital LLC Acquires 2,541 Shares of Chevron Co. (NYSE:CVX)

Callan Capital LLC grew its holdings in Chevron Co. (NYSE:CVX) by 105.3% during the 2nd quarter, Holdings Channel reports. The fund owned 4,953 shares of the oil and gas company’s stock after buying an additional 2,541 shares during the period. Callan Capital LLC’s holdings in Chevron were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. American Capital Advisory LLC increased its stake in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth $30,000. Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cooksen Wealth LLC purchased a new stake in shares of Chevron in the fourth quarter worth $40,000. Finally, Clear Investment Research LLC increased its stake in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVX. Royal Bank of Canada reduced their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. UBS Group cut their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial cut their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Finally, Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

Chevron Stock Performance

Shares of NYSE:CVX opened at $144.98 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $171.70. The stock has a market capitalization of $267.19 billion, a P/E ratio of 13.34, a PEG ratio of 2.48 and a beta of 1.09. The firm has a fifty day simple moving average of $148.26 and a two-hundred day simple moving average of $154.47. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released 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). The firm had revenue of $51.18 billion during 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%. Chevron’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.08 EPS. On average, analysts expect that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Announces Dividend

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