Custom Portfolio Group LLC Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Custom Portfolio Group LLC lowered its stake in Chevron Co. (NYSE:CVX) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,108 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Chevron accounts for 0.5% of Custom Portfolio Group LLC’s portfolio, making the stock its 27th largest position. Custom Portfolio Group LLC’s holdings in Chevron were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CVX. American Capital Advisory LLC grew 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 fourth quarter valued at about $30,000. Anfield Capital Management LLC increased its position in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. Finally, Cooksen Wealth LLC purchased a new position in shares of Chevron during the 4th quarter valued at about $40,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.2 %

Shares of CVX opened at $147.27 on Tuesday. The business’s 50 day simple moving average is $146.43 and its 200-day simple moving average is $154.25. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $271.41 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 2.68 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 earnings per share (EPS) 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 business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.43%. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. 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 report on Friday. Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Truist Financial dropped their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday. Barclays decreased their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $180.00.

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.