Wealth Advisory Solutions LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Wealth Advisory Solutions LLC grew its position in Chevron Co. (NYSE:CVX) by 4.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 51,345 shares of the oil and gas company’s stock after buying an additional 2,294 shares during the period. Chevron makes up about 2.2% of Wealth Advisory Solutions LLC’s investment portfolio, making the stock its 12th largest holding. Wealth Advisory Solutions LLC’s holdings in Chevron were worth $8,031,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Berkshire Hathaway Inc lifted its position in shares of Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after purchasing an additional 1,999,332 shares during the last quarter. Norges Bank bought a new position in Chevron during the fourth quarter valued at $2,902,007,000. Bank of New York Mellon Corp raised its position in Chevron by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after purchasing an additional 654,482 shares during the period. Finally, Capital World Investors lifted its position in shares of Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. HSBC increased their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. TD Cowen raised their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Barclays decreased 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, Mizuho raised their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Trading Down 1.1 %

Shares of CVX stock traded down $1.60 during trading on Tuesday, hitting $146.90. 3,606,299 shares of the stock traded hands, compared to its average volume of 7,776,665. The firm’s fifty day moving average price is $152.88 and its 200-day moving average price is $155.79. 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 market capitalization of $270.73 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly 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 analyst estimates of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.44%. Chevron’s dividend payout ratio (DPR) 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.