Pegasus Asset Management Inc. Increases Stock Position in Chevron Co. (NYSE:CVX)

Pegasus Asset Management Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 0.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 28,660 shares of the oil and gas company’s stock after acquiring an additional 259 shares during the quarter. Chevron accounts for about 1.7% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. Pegasus Asset Management Inc.’s holdings in Chevron were worth $4,483,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kapstone Financial Advisors LLC lifted its stake in Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares in the last quarter. Eagle Capital Management LLC increased its holdings in shares of Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the last quarter. Lane & Associates LLC bought a new position in shares of Chevron in the 1st quarter worth $345,000. Guyasuta Investment Advisors Inc. increased its holdings in shares of Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after buying an additional 3,603 shares during the last quarter. Finally, Seven Mile Advisory increased its holdings in shares of Chevron by 9.8% in the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after buying an additional 247 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVX shares. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays decreased their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Scotiabank reduced their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. TD Cowen increased their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Finally, HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Trading Up 0.6 %

CVX traded up $0.93 during trading on Monday, hitting $148.55. 5,778,453 shares of the stock traded hands, compared to its average volume of 7,802,062. The firm has a market capitalization of $273.77 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. 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 firm has a 50-day moving average of $152.88 and a 200 day moving average of $155.79. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last announced its 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 net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the firm posted $3.08 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Chevron Co. will post 11.96 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.39%. Chevron’s dividend payout ratio is presently 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.