Regal Investment Advisors LLC Acquires 1,988 Shares of Chevron Co. (NYSE:CVX)

Regal Investment Advisors LLC increased its holdings in Chevron Co. (NYSE:CVX) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,951 shares of the oil and gas company’s stock after purchasing an additional 1,988 shares during the quarter. Regal Investment Advisors LLC’s holdings in Chevron were worth $8,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Quarry LP increased its stake in shares of Chevron by 172.2% in the 2nd quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 260 shares in the last quarter. Wallace Advisory Group LLC increased its stake in Chevron by 1.9% in the second quarter. Wallace Advisory Group LLC now owns 44,323 shares of the oil and gas company’s stock valued at $6,933,000 after purchasing an additional 808 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new position in shares of Chevron during the second quarter valued at about $819,000. Sunbelt Securities Inc. grew its stake in shares of Chevron by 16.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 39,799 shares of the oil and gas company’s stock valued at $6,225,000 after buying an additional 5,481 shares during the period. Finally, Front Row Advisors LLC increased its position in Chevron by 12.7% in the 2nd quarter. Front Row Advisors LLC now owns 10,871 shares of the oil and gas company’s stock valued at $1,701,000 after buying an additional 1,228 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVX. Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday. Truist Financial lowered their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Barclays reduced their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Scotiabank dropped their price target 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 investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $180.24.

Chevron Stock Up 2.5 %

CVX stock opened at $145.49 on Monday. The company’s 50 day moving average is $146.63 and its 200 day moving average is $154.31. The stock has a market cap of $268.13 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 2.68 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 Co. has a 1-year low of $135.37 and a 1-year high of $171.70.

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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the firm posted $3.08 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 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.