LaFleur & Godfrey LLC Increases Position in Chevron Co. (NYSE:CVX)

LaFleur & Godfrey LLC lifted its stake in Chevron Co. (NYSE:CVX) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,966 shares of the oil and gas company’s stock after purchasing an additional 2,225 shares during the period. Chevron makes up 1.8% of LaFleur & Godfrey LLC’s investment portfolio, making the stock its 20th largest holding. LaFleur & Godfrey LLC’s holdings in Chevron were worth $12,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Capital Advisory LLC increased its position in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Bare Financial Services Inc purchased a new position in Chevron during the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC purchased a new position in Chevron during the 4th quarter valued at about $30,000. Cooksen Wealth LLC acquired a new position in Chevron during the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC lifted its holdings in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on CVX shares. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial cut their price target on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. HSBC increased their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Sanford C. Bernstein downgraded shares of 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Performance

Shares of NYSE:CVX opened at $145.80 on Friday. The business has a 50-day moving average of $153.07 and a two-hundred day moving average of $155.82. The firm has a market capitalization of $268.70 billion, a PE ratio of 13.41, a P/E/G ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last posted 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the company posted $3.08 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.47%. Chevron’s dividend payout ratio (DPR) is 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.