Calamos Wealth Management LLC Acquires 301 Shares of Chevron Co. (NYSE:CVX)

Calamos Wealth Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,989 shares of the oil and gas company’s stock after acquiring an additional 301 shares during the quarter. Calamos Wealth Management LLC’s holdings in Chevron were worth $6,412,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Capital Advisory LLC lifted its position in 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 last quarter. Bare Financial Services Inc purchased a new position in shares of Chevron during the 4th quarter worth about $27,000. Frank Rimerman Advisors LLC bought a new position in Chevron during the 4th quarter valued at about $30,000. Cooksen Wealth LLC purchased a new stake in Chevron in the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC lifted its stake in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 1.3 %

CVX stock traded up $1.89 during trading on Friday, reaching $147.62. 4,824,078 shares of the company traded hands, compared to its average volume of 7,814,477. The business has a 50 day simple moving average of $152.97 and a 200 day simple moving average of $155.81. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. 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 company has a market capitalization of $272.06 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.08 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wells Fargo & Company increased their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. TD Cowen raised their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, HSBC boosted their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.