RPG Investment Advisory LLC Buys 8,153 Shares of Chevron Co. (NYSE:CVX)

RPG Investment Advisory LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,234 shares of the oil and gas company’s stock after buying an additional 8,153 shares during the quarter. Chevron comprises 2.7% of RPG Investment Advisory LLC’s portfolio, making the stock its 7th biggest position. RPG Investment Advisory LLC’s holdings in Chevron were worth $18,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. Norges Bank acquired a new position in Chevron in the fourth quarter valued at about $2,902,007,000. Berkshire Hathaway Inc grew its position in shares of Chevron by 14.4% in the 4th 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 purchasing an additional 15,845,037 shares during the period. Capital World Investors grew its position in shares of Chevron by 43.5% in the 4th 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 purchasing an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Chevron by 73,888.2% during the 4th 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 purchasing an additional 4,596,584 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Chevron by 13.0% during the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock worth $2,330,235,000 after buying an additional 1,797,171 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. 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. Truist Financial lowered their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Scotiabank cut their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Stock Performance

Shares of CVX opened at $140.30 on Tuesday. The company has a market cap of $256.60 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. The firm has a 50-day moving average of $150.50 and a 200-day moving average of $155.16. Chevron Co. has a one year low of $137.87 and a one year high of $171.70. 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 (NYSE:CVX) last issued its 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). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $3.08 earnings per share. As a group, equities analysts forecast that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

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.