Weil Company Inc. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Weil Company Inc. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 5.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,281 shares of the oil and gas company’s stock after purchasing an additional 118 shares during the quarter. Weil Company Inc.’s holdings in Chevron were worth $357,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Chevron in the 4th quarter worth about $2,902,007,000. Berkshire Hathaway Inc increased its position in Chevron by 14.4% during the fourth 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 during the last quarter. Capital World Investors raised its stake in Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after purchasing an additional 4,596,584 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Chevron by 13.0% during the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock valued at $2,330,235,000 after buying an additional 1,797,171 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several research reports. Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada reduced their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Finally, Scotiabank dropped their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Down 1.7 %

Shares of NYSE CVX opened at $138.48 on Friday. The firm has a market cap of $255.21 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 2.50 and a beta of 1.09. Chevron Co. has a 1 year low of $137.87 and a 1 year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock’s 50-day simple moving average is $150.82 and its 200-day simple moving average is $155.26.

Chevron (NYSE:CVX) last announced its 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 during the quarter, compared to analyst estimates of $48.68 billion. During the same period 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, equities analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

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.