Chevron Co. (NYSE:CVX) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its stake in Chevron Co. (NYSE:CVX) by 13,094.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,126 shares of the oil and gas company’s stock after buying an additional 25,928 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Chevron were worth $4,087,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Berkshire Hathaway Inc grew its holdings in Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Capital World Investors lifted its position in shares of Chevron by 43.5% during the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Chevron by 68,604.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock worth $180,158,000 after purchasing an additional 1,206,059 shares in the last quarter. Finally, Wulff Hansen & CO. increased its holdings in Chevron by 15,542.0% in the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after buying an additional 1,168,137 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. Truist Financial lowered their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. 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, September 16th. 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, Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.41.

Chevron Stock Up 0.5 %

Chevron stock opened at $145.68 on Friday. The stock has a 50 day moving average of $148.06 and a two-hundred day moving average of $154.48. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The stock has a market capitalization of $268.48 billion, a price-to-earnings ratio of 13.40, 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 issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.08 earnings per share. As a group, research analysts expect that Chevron Co. will post 11.48 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s dividend payout ratio (DPR) is 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.