Schnieders Capital Management LLC raised its position in Chevron Co. (NYSE:CVX) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,826 shares of the oil and gas company’s stock after acquiring an additional 565 shares during the period. Schnieders Capital Management LLC’s holdings in Chevron were worth $3,019,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CVX. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Chevron during the second quarter worth $30,000. Horan Securities Inc. lifted its stake in shares of Chevron by 196.0% during the second quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock worth $31,000 after buying an additional 196 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Chevron during the first quarter worth $31,000. Newton One Investments LLC acquired a new stake in shares of Chevron during the second quarter worth $34,000. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of Chevron during the first quarter worth $34,000. Institutional investors own 65.78% of the company’s stock.
Several equities research analysts have recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Chevron from $135.00 to $130.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 25th. Morgan Stanley boosted their target price on shares of Chevron from $127.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, June 18th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research report on Wednesday, August 4th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and decreased their target price for the company from $127.00 to $112.00 in a research report on Thursday, July 22nd. Finally, Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $118.00 target price for the company in a research report on Wednesday, August 4th. Eleven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $118.29.
Chevron (NYSE:CVX) last released its earnings results on Thursday, July 29th. The oil and gas company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.12. The business had revenue of $37.60 billion during the quarter, compared to analysts’ expectations of $35.98 billion. Chevron had a net margin of 3.01% and a return on equity of 3.89%. The company’s quarterly revenue was up 169.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.59) earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 6.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Thursday, August 19th were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Wednesday, August 18th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.56%. Chevron’s dividend payout ratio is currently -2,680.00%.
Chevron Company Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.
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