Trivant Custom Portfolio Group LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Trivant Custom Portfolio Group LLC raised its holdings in Chevron Co. (NYSE:CVX) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,188 shares of the oil and gas company’s stock after purchasing an additional 255 shares during the quarter. Chevron accounts for about 1.6% of Trivant Custom Portfolio Group LLC’s holdings, making the stock its 26th biggest position. Trivant Custom Portfolio Group LLC’s holdings in Chevron were worth $2,532,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Pacifica Partners Inc. boosted its holdings in Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after buying an additional 63 shares in the last quarter. Private Wealth Management Group LLC boosted its holdings in 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 in the last quarter. Hubbell Strickland Wealth Management LLC boosted its holdings in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares in the last quarter. Ellenbecker Investment Group lifted its position in shares of Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares in the last quarter. Finally, Mayfair Advisory Group LLC lifted its position in shares of Chevron by 0.7% in the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. HSBC upped their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Mizuho increased their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays cut their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Truist Financial cut their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $183.82.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE:CVX traded up $0.19 during midday trading on Friday, reaching $146.99. The stock had a trading volume of 3,338,862 shares, compared to its average volume of 7,860,297. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm’s fifty day simple moving average is $154.00 and its 200-day simple moving average is $155.93. 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 $270.90 billion, a P/E ratio of 13.53, a PEG ratio of 2.42 and a beta of 1.10.

Chevron (NYSE:CVX) last posted 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 firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the business posted $3.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.44%. Chevron’s dividend payout ratio is 59.98%.

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.