Verity & Verity LLC Buys 2,176 Shares of Chevron Co. (NYSE:CVX)

Verity & Verity LLC grew its stake in Chevron Co. (NYSE:CVX) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,657 shares of the oil and gas company’s stock after buying an additional 2,176 shares during the quarter. Chevron accounts for about 2.9% of Verity & Verity LLC’s investment portfolio, making the stock its 4th biggest holding. Verity & Verity LLC’s holdings in Chevron were worth $25,756,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in CVX. American Capital Advisory LLC raised its position in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Chevron during the 4th quarter worth approximately $30,000. Anfield Capital Management LLC raised its holdings 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 valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC lifted its position in shares of Chevron by 66.7% in the second 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 bought a new stake in shares of Chevron in the fourth quarter worth $40,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. 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 report on Tuesday, August 6th. Royal Bank of Canada lowered their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Truist Financial dropped their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, UBS Group dropped their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $180.00.

Chevron Trading Up 1.7 %

Shares of CVX stock opened at $149.73 on Wednesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $170.17. The firm has a 50 day moving average price of $146.34 and a two-hundred day moving average price of $154.21. 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 company has a market capitalization of $273.84 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly 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 net margin of 9.31% and a return on equity of 13.70%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.08 earnings per share. As a group, analysts predict that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend 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.