Oak Family Advisors LLC Decreases Holdings in Chevron Co. (NYSE:CVX)

Oak Family Advisors LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,159 shares of the oil and gas company’s stock after selling 88 shares during the quarter. Oak Family Advisors LLC’s holdings in Chevron were worth $2,058,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. American Capital Advisory LLC increased its holdings in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Bare Financial Services Inc purchased a new stake in shares of Chevron during the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter worth approximately $30,000. Cooksen Wealth LLC purchased a new position in Chevron in the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC raised its holdings in Chevron by 264.9% during 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVX. TD Cowen raised their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wells Fargo & Company raised their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada decreased their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Scotiabank cut their target price 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. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Up 0.3 %

Chevron stock traded up $0.48 during mid-day trading on Thursday, hitting $145.80. 4,026,466 shares of the company’s stock were exchanged, compared to its average volume of 7,832,954. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The stock has a market cap of $266.66 billion, a P/E ratio of 13.41, a P/E/G ratio of 2.46 and a beta of 1.10. 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 50 day moving average of $153.07 and a two-hundred day moving average of $155.82.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the firm posted $3.08 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The company 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 dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is presently 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.