One Wealth Management Investment & Advisory Services LLC Raises Stock Holdings in Chevron Co. (NYSE:CVX)

One Wealth Management Investment & Advisory Services LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 7.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,440 shares of the oil and gas company’s stock after acquiring an additional 95 shares during the quarter. One Wealth Management Investment & Advisory Services LLC’s holdings in Chevron were worth $225,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Chevron in the fourth quarter valued at approximately $2,902,007,000. Berkshire Hathaway Inc lifted its stake in 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 acquiring an additional 15,845,037 shares in the last quarter. Capital World Investors boosted its holdings in Chevron by 43.5% during the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after acquiring an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA grew its position in Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after acquiring an additional 4,596,584 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Chevron by 13.0% during the fourth quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock worth $2,330,235,000 after purchasing an additional 1,797,171 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Scotiabank lowered their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada decreased their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Mizuho lifted their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Performance

NYSE CVX traded down $2.37 during trading hours on Friday, hitting $138.56. The company had a trading volume of 7,836,358 shares, compared to its average volume of 7,768,067. The business has a 50 day moving average of $150.82 and a 200-day moving average of $155.26. The company has a market cap of $255.36 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. Chevron Co. has a 1-year low of $137.87 and a 1-year 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.

Chevron (NYSE:CVX) last announced its earnings results 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). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $3.08 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 11.86 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.71%. Chevron’s payout ratio is 59.98%.

Chevron Company 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.