Moors & Cabot Inc. Grows Stock Position in Chevron Co. (NYSE:CVX)

Moors & Cabot Inc. increased its stake in Chevron Co. (NYSE:CVX) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,669 shares of the oil and gas company’s stock after acquiring an additional 392 shares during the period. Chevron comprises about 0.8% of Moors & Cabot Inc.’s holdings, making the stock its 20th largest holding. Moors & Cabot Inc.’s holdings in Chevron were worth $15,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Excalibur Management Corp lifted its position in Chevron by 2.9% in the second quarter. Excalibur Management Corp now owns 18,514 shares of the oil and gas company’s stock valued at $2,896,000 after purchasing an additional 521 shares during the last quarter. Lmcg Investments LLC increased its stake in shares of Chevron by 7.7% in the second quarter. Lmcg Investments LLC now owns 141,218 shares of the oil and gas company’s stock worth $22,089,000 after buying an additional 10,054 shares during the period. Luts & Greenleigh Group Inc. bought a new stake in Chevron during the 2nd quarter valued at $348,000. Terril Brothers Inc. boosted its position in Chevron by 8.7% during the 2nd quarter. Terril Brothers Inc. now owns 2,043 shares of the oil and gas company’s stock valued at $320,000 after buying an additional 164 shares during the period. Finally, Wulff Hansen & CO. grew its holdings in Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after acquiring an additional 1,168,137 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. 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 lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Truist Financial cut their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $182.88.

Chevron Stock Up 1.1 %

Shares of NYSE:CVX opened at $142.11 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $148.88 and a two-hundred day simple moving average of $154.68. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70. The stock has a market capitalization of $259.91 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly 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 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.08 EPS. On average, research analysts anticipate that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.59%. Chevron’s payout ratio is currently 59.98%.

About Chevron

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.