Kathmere Capital Management LLC Has $432,000 Stake in Chevron Co. (NYSE:CVX)

Kathmere Capital Management LLC raised its position in Chevron Co. (NYSE:CVX) by 6.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,759 shares of the oil and gas company’s stock after purchasing an additional 167 shares during the period. Kathmere Capital Management LLC’s holdings in Chevron were worth $432,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. American Capital Advisory LLC lifted its position in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Chevron during the 4th quarter valued at $30,000. Anfield Capital Management LLC increased its stake in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its stake in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, Cooksen Wealth LLC bought a new stake in Chevron during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $145.49 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $171.70. The company has a market cap of $268.13 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $146.63 and its two-hundred day simple moving average is $154.31.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company posted $3.08 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Dividend Announcement

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 4.48%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Scotiabank decreased their price target 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. 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. Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Truist Financial reduced their target price 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. Finally, Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $180.24.

Chevron Company 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.