Cobblestone Capital Advisors LLC NY Boosts Stock Position in Chevron Co. (NYSE:CVX)

Cobblestone Capital Advisors LLC NY grew its holdings in Chevron Co. (NYSE:CVX) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,740 shares of the oil and gas company’s stock after buying an additional 149 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Chevron were worth $4,339,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Capital Advisory LLC increased its position in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $30,000. Anfield Capital Management LLC boosted its stake 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 worth $34,000 after acquiring an additional 118 shares during the last quarter. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC boosted its stake in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 1.7 %

Shares of NYSE:CVX traded down $2.37 during trading hours on Friday, reaching $138.56. The stock had a trading volume of 7,836,358 shares, compared to its average volume of 7,768,067. Chevron Co. has a 1 year low of $137.87 and a 1 year high of $171.70. The firm’s 50 day moving average is $150.82 and its 200-day moving average is $155.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $255.36 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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). 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 analysts’ expectations of $48.68 billion. During the same period in the prior year, the company posted $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts predict that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVX. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank lowered their price target on 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 lowered their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Barclays lowered their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, 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. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

About Chevron

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.