Daymark Wealth Partners LLC Has $30.19 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Daymark Wealth Partners LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 2.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 193,001 shares of the oil and gas company’s stock after buying an additional 4,855 shares during the quarter. Chevron comprises 1.1% of Daymark Wealth Partners LLC’s holdings, making the stock its 20th biggest position. Daymark Wealth Partners LLC’s holdings in Chevron were worth $30,189,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CVX. Berkshire Hathaway Inc grew its position in shares of 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 worth $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Ameriprise Financial Inc. grew its position in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 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 worth $2,525,380,000 after acquiring an additional 495,879 shares during the period. Capital International Investors lifted its position in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Chevron by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after purchasing an additional 126,889 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVX shares. Truist Financial cut their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Scotiabank reduced their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. UBS Group reduced their target price on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Barclays lowered their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $182.41.

Chevron Trading Down 2.4 %

CVX opened at $143.96 on Thursday. The company’s 50 day moving average price is $147.64 and its two-hundred day moving average price is $154.50. The firm has a market capitalization of $263.29 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 2.68 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 current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts predict that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 yield of 4.53%. The ex-dividend date of this dividend was 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.