Lee Danner & Bass Inc. Invests $5.23 Million in Chevron Co. (NYSE:CVX)

Lee Danner & Bass Inc. bought a new position in Chevron Co. (NYSE:CVX) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 33,464 shares of the oil and gas company’s stock, valued at approximately $5,234,000.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in shares of Chevron by 8.1% during the 2nd quarter. Signaturefd LLC now owns 28,618 shares of the oil and gas company’s stock worth $4,476,000 after purchasing an additional 2,143 shares during the period. KCM Investment Advisors LLC boosted its stake in shares of Chevron by 1.7% during the 2nd quarter. KCM Investment Advisors LLC now owns 337,117 shares of the oil and gas company’s stock worth $52,732,000 after purchasing an additional 5,567 shares during the period. North Point Portfolio Managers Corp OH purchased a new position in shares of Chevron during the 2nd quarter worth about $233,000. Stephens Consulting LLC boosted its stake in shares of Chevron by 23.5% during the 2nd quarter. Stephens Consulting LLC now owns 562 shares of the oil and gas company’s stock worth $88,000 after purchasing an additional 107 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Chevron by 3.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 421,218 shares of the oil and gas company’s stock worth $65,887,000 after purchasing an additional 14,273 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.3 %

Shares of CVX traded up $0.45 during mid-day trading on Friday, hitting $147.87. The company’s stock had a trading volume of 6,414,178 shares, compared to its average volume of 7,744,871. The company’s 50-day moving average is $152.42 and its 200-day moving average is $155.64. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The firm has a market capitalization of $272.52 billion, a price-to-earnings ratio of 13.60, a PEG 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.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company posted $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.41%. Chevron’s payout ratio is presently 59.98%.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada dropped their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Scotiabank dropped their price target 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. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.