Capital Wealth Planning LLC Has $286.45 Million Holdings in Chevron Co. (NYSE:CVX)

Capital Wealth Planning LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 35.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,831,267 shares of the oil and gas company’s stock after selling 1,012,912 shares during the quarter. Chevron makes up about 3.0% of Capital Wealth Planning LLC’s investment portfolio, making the stock its 19th largest position. Capital Wealth Planning LLC owned 0.10% of Chevron worth $286,447,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CVX. Eagle Capital Management LLC boosted its stake in Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares in the last quarter. Lane & Associates LLC acquired a new stake in Chevron in the 1st quarter valued at $345,000. Seven Mile Advisory boosted its stake in Chevron by 9.8% in the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 247 shares in the last quarter. KCM Investment Advisors LLC boosted its stake in Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares in the last quarter. Finally, Livelsberger Financial Advisory acquired a new stake in Chevron in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CVX shares. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays decreased their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada decreased their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Truist Financial decreased their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Trading Up 1.0 %

NYSE:CVX opened at $140.61 on Monday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The business’s 50-day moving average price is $149.12 and its two-hundred day moving average price is $154.75. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $257.16 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.08 EPS. On average, equities analysts expect that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date was 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.