Chevron Co. (NYSE:CVX) Shares Bought by Alley Investment Management Company LLC

Alley Investment Management Company LLC increased its stake in Chevron Co. (NYSE:CVX) by 0.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 106,532 shares of the oil and gas company’s stock after acquiring an additional 786 shares during the quarter. Chevron makes up 2.3% of Alley Investment Management Company LLC’s holdings, making the stock its 15th largest holding. Alley Investment Management Company LLC’s holdings in Chevron were worth $16,664,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. American Capital Advisory LLC boosted its holdings 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 buying an additional 125 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $30,000. Anfield Capital Management LLC boosted its stake in Chevron by 118.0% in the 2nd 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 during the period. Cyrus J. Lawrence LLC grew its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Finally, Cooksen Wealth LLC purchased a new stake in shares of Chevron in the fourth quarter valued at $40,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.1 %

Shares of CVX stock opened at $147.45 on Wednesday. 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 firm has a market cap of $269.67 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The stock has a 50 day moving average of $147.64 and a 200-day moving average of $154.50.

Chevron (NYSE:CVX) last released its 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 net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 11.02 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CVX shares. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank lowered their price objective 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. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Barclays decreased their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada dropped their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Seven 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.

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.