Chevron Co. (NYSE:CVX) Shares Acquired by Redwood Financial Network Corp

Redwood Financial Network Corp boosted its holdings in Chevron Co. (NYSE:CVX) by 14.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,095 shares of the oil and gas company’s stock after purchasing an additional 503 shares during the period. Redwood Financial Network Corp’s holdings in Chevron were worth $641,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. American Capital Advisory LLC boosted its holdings in shares of Chevron by 403.2% in the 1st 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 during the period. Frank Rimerman Advisors LLC acquired a new position in Chevron in the fourth quarter valued at approximately $30,000. Anfield Capital Management LLC grew its holdings in shares of Chevron by 118.0% during 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 last quarter. Cooksen Wealth LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $40,000. Finally, Clear Investment Research LLC lifted its holdings in shares of Chevron by 264.9% in the 4th 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 last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada dropped their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Barclays dropped their price target 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. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Performance

NYSE:CVX opened at $140.30 on Tuesday. The company has a 50-day moving average of $150.50 and a 200-day moving average of $155.16. The firm has a market cap of $256.60 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 2.34 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. Chevron Co. has a twelve month low of $137.87 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last issued 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). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.08 earnings per share. Analysts forecast that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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 given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Monday, August 19th. 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.