Hobbs Group Advisors LLC Takes $625,000 Position in Chevron Co. (NYSE:CVX)

Hobbs Group Advisors LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,994 shares of the oil and gas company’s stock, valued at approximately $625,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kapstone Financial Advisors LLC grew its position in Chevron by 5.3% in the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after acquiring an additional 211 shares during the period. Eagle Capital Management LLC grew its position in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC bought a new stake in Chevron in the first quarter valued at $345,000. Guyasuta Investment Advisors Inc. grew its position in Chevron by 1.7% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after acquiring an additional 3,603 shares during the period. Finally, Seven Mile Advisory grew its position in Chevron by 9.8% in the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 247 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 1.5 %

NYSE:CVX traded down $2.14 during mid-day trading on Tuesday, hitting $144.69. The company had a trading volume of 7,485,932 shares, compared to its average volume of 7,868,223. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The business’s fifty day moving average is $153.62 and its two-hundred day moving average is $156.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market cap of $266.66 billion, a P/E ratio of 13.32, a P/E/G ratio of 2.42 and a beta of 1.10.

Chevron (NYSE:CVX) last released 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company posted $3.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. TD Cowen upped their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Scotiabank decreased their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Barclays decreased their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Truist Financial decreased their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

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.