Fortune Financial Advisors LLC Has $1.93 Million Position in Chevron Co. (NYSE:CVX)

Fortune Financial Advisors LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 6.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,349 shares of the oil and gas company’s stock after selling 805 shares during the period. Chevron accounts for about 1.2% of Fortune Financial Advisors LLC’s portfolio, making the stock its 25th largest position. Fortune Financial Advisors LLC’s holdings in Chevron were worth $1,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Berkshire Hathaway Inc increased its stake in Chevron by 14.4% during 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 in the last quarter. Norges Bank bought a new stake in Chevron during the 4th quarter valued at $2,902,007,000. Bank of New York Mellon Corp increased its stake in Chevron by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after purchasing an additional 654,482 shares in the last quarter. Capital World Investors increased its stake in Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake 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 valued at $2,330,235,000 after purchasing an additional 1,797,171 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CVX shares. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Barclays reduced their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company 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 reduced their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank reduced their target price 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. Finally, Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Price Performance

CVX opened at $137.82 on Thursday. The firm has a market cap of $252.06 billion, a P/E ratio of 12.68, a PEG ratio of 2.34 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70. 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 50-day moving average of $149.75 and a 200 day moving average of $154.92.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 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 business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the company earned $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 11.86 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio 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.