Denali Advisors LLC Lowers Position in Chevron Co. (NYSE:CVX)

Denali Advisors LLC reduced its stake in Chevron Co. (NYSE:CVX) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,000 shares of the oil and gas company’s stock after selling 100 shares during the period. Denali Advisors LLC’s holdings in Chevron were worth $939,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Pacifica Partners Inc. boosted its position in shares of Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC boosted its position in shares of Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after buying an additional 63 shares during the period. Montz Harcus Wealth Management LLC grew its stake in shares of Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after buying an additional 64 shares during the period. Finally, Marks Group Wealth Management Inc lifted its stake in Chevron by 3.1% during the 1st quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock worth $339,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.1 %

Shares of CVX opened at $142.11 on Tuesday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70. The stock’s 50-day moving average is $148.88 and its two-hundred day moving average is $154.68. 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 cap of $259.91 billion, a PE ratio of 13.07, a P/E/G ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the company posted $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 11.57 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. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.59%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays dropped their price target 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. Truist Financial reduced their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.88.

Chevron 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.