Dimensional Fund Advisors LP Increases Holdings in Chevron Co. (NYSE:CVX)

Dimensional Fund Advisors LP lifted its position in shares of Chevron Co. (NYSE:CVX) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,021,023 shares of the oil and gas company’s stock after acquiring an additional 126,889 shares during the quarter. Chevron accounts for about 0.5% of Dimensional Fund Advisors LP’s holdings, making the stock its 12th biggest position. Dimensional Fund Advisors LP owned about 0.71% of Chevron worth $2,036,846,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. American Capital Advisory LLC boosted its stake 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 worth $25,000 after acquiring an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $30,000. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. Cooksen Wealth LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $40,000. Finally, Clear Investment Research LLC boosted its stake in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

Shares of NYSE CVX opened at $140.61 on Monday. The firm has a fifty day moving average of $149.12 and a 200-day moving average of $154.75. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70. The stock has a market capitalization of $257.16 billion, a PE ratio of 12.94, a P/E/G ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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 return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the company posted $3.08 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 11.57 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.64%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Scotiabank cut their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Truist Financial cut their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Barclays cut their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

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.