Chevron Co. (NYSE:CVX) Shares Purchased by Crumly & Associates Inc.

Crumly & Associates Inc. increased its stake in Chevron Co. (NYSE:CVX) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,602 shares of the oil and gas company’s stock after acquiring an additional 120 shares during the quarter. Crumly & Associates Inc.’s holdings in Chevron were worth $563,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Chevron in the 4th quarter valued at about $2,902,007,000. Berkshire Hathaway Inc raised its holdings in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Capital World Investors lifted its position in shares of Chevron by 43.5% in the fourth 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Chevron by 73,888.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after acquiring an additional 4,596,584 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of 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 in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CVX shares. Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays lowered their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Truist Financial cut their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Down 0.4 %

Shares of NYSE CVX traded down $0.52 during mid-day trading on Thursday, hitting $141.55. The company had a trading volume of 3,223,360 shares, compared to its average volume of 7,731,741. The business’s 50-day simple moving average is $151.49 and its 200 day simple moving average is $155.47. 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 1-year low of $139.62 and a 1-year high of $171.70. The company has a market capitalization of $258.88 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last announced 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 net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the business posted $3.08 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend 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.