Chevron Co. (NYSE:CVX) Shares Acquired by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 41.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,019 shares of the oil and gas company’s stock after purchasing an additional 879 shares during the period. Fortis Capital Advisors LLC’s holdings in Chevron were worth $472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. American Capital Advisory LLC grew its holdings in shares of 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. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at approximately $30,000. Anfield Capital Management LLC increased its holdings in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cooksen Wealth LLC purchased a new stake in shares of Chevron during the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC lifted its holdings in shares of 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 purchasing an additional 204 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX opened at $144.85 on Wednesday. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The stock has a market cap of $264.92 billion, a P/E ratio of 13.31, a PEG ratio of 2.50 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $151.77 and a two-hundred day moving average of $155.56.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 earnings per share. As a group, research analysts predict that Chevron Co. will post 11.86 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 given 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 4.50%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Barclays dropped their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Truist Financial dropped their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Royal Bank of Canada cut their price target 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. Scotiabank lowered their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

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.