58,226 Shares in Chevron Co. (NYSE:CVX) Acquired by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC purchased a new position in Chevron Co. (NYSE:CVX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,226 shares of the oil and gas company’s stock, valued at approximately $9,108,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Gilbert & Cook Inc. grew its position in shares of Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after purchasing an additional 369 shares in the last quarter. Aveo Capital Partners LLC boosted its stake in Chevron by 1.0% during the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after buying an additional 82 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in Chevron by 55.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after buying an additional 4,047 shares in the last quarter. J. W. Coons Advisors LLC increased its stake in Chevron by 1.4% in the 4th quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock worth $1,059,000 after acquiring an additional 100 shares during the last quarter. Finally, Shepherd Financial Partners LLC raised its holdings in shares of Chevron by 3.9% during the 4th quarter. Shepherd Financial Partners LLC now owns 2,850 shares of the oil and gas company’s stock worth $425,000 after acquiring an additional 107 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVX. 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 report on Wednesday, September 18th. Scotiabank dropped their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Barclays decreased their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Truist Financial decreased their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $180.24.

Chevron Trading Up 2.5 %

Shares of NYSE:CVX opened at $145.49 on Friday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70. The business has a 50-day moving average price of $146.63 and a 200-day moving average price of $154.31. 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 market cap of $268.13 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 2.68 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its 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 firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $3.08 earnings per share. Equities analysts predict that Chevron Co. will post 11.02 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced 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. This represents a $6.52 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 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.