Peterson Wealth Management Buys 448 Shares of Chevron Co. (NYSE:CVX)

Peterson Wealth Management raised its position in Chevron Co. (NYSE:CVX) by 5.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,213 shares of the oil and gas company’s stock after purchasing an additional 448 shares during the period. Peterson Wealth Management’s holdings in Chevron were worth $1,285,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. American Capital Advisory LLC grew its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $30,000. Anfield Capital Management LLC grew its stake in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Cooksen Wealth LLC bought a new stake in Chevron in the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC lifted its stake in 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 buying an additional 204 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Truist Financial cut their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Mizuho boosted their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Royal Bank of Canada dropped their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Barclays cut their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Price Performance

CVX opened at $140.95 on Friday. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm has a 50-day moving average of $151.18 and a 200 day moving average of $155.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market cap of $257.79 billion, a P/E ratio of 12.97, a PEG ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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 analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 11.86 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Monday, August 19th. Chevron’s dividend 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.