Mitchell Mcleod Pugh & Williams Inc. Buys 1,204 Shares of Chevron Co. (NYSE:CVX)

Mitchell Mcleod Pugh & Williams Inc. grew its stake in Chevron Co. (NYSE:CVX) by 5.5% in the second quarter, HoldingsChannel reports. The fund owned 23,217 shares of the oil and gas company’s stock after acquiring an additional 1,204 shares during the period. Chevron accounts for 0.8% of Mitchell Mcleod Pugh & Williams Inc.’s holdings, making the stock its 26th largest position. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Chevron were worth $3,632,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Berkshire Hathaway Inc grew its position in shares of Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after buying an additional 1,999,332 shares during the period. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter worth approximately $2,902,007,000. Bank of New York Mellon Corp grew its position in shares of Chevron by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after buying an additional 654,482 shares during the period. Finally, Capital World Investors grew its position in shares of Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after buying an additional 495,879 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.4 %

Shares of Chevron stock traded up $0.53 on Friday, hitting $147.95. The company had a trading volume of 6,414,755 shares, compared to its average volume of 7,230,632. The firm has a market capitalization of $272.67 billion, a P/E ratio of 13.61, a P/E/G ratio of 2.50 and a beta of 1.10. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a 50-day moving average of $152.27 and a 200-day moving average of $155.65.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.08 EPS. Research analysts predict that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Analysts Set New Price Targets

Several brokerages have recently commented on CVX. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Truist Financial decreased their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Finally, Scotiabank decreased their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target 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.