Premier Path Wealth Partners LLC Grows Holdings in Chevron Co. (NYSE:CVX)

Premier Path Wealth Partners LLC raised its position in Chevron Co. (NYSE:CVX) by 10.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,117 shares of the oil and gas company’s stock after buying an additional 1,144 shares during the period. Premier Path Wealth Partners LLC’s holdings in Chevron were worth $1,895,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. American Capital Advisory LLC increased its holdings in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the last quarter. Bare Financial Services Inc purchased a new stake in Chevron during the fourth quarter worth about $27,000. Frank Rimerman Advisors LLC purchased a new stake in Chevron during the fourth quarter worth about $30,000. Cooksen Wealth LLC purchased a new stake in Chevron during the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC increased its holdings in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Truist Financial lowered 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. Scotiabank dropped their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada cut their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Barclays cut their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Price Performance

CVX traded up $1.95 during trading on Friday, reaching $147.68. The stock had a trading volume of 4,820,702 shares, compared to its average volume of 7,814,477. The stock has a market cap of $272.17 billion, a PE ratio of 13.59, a PEG ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The business has a 50-day moving average of $152.97 and a 200-day moving average of $155.78.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.08 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. Chevron’s dividend payout ratio is presently 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.