Providence Capital Advisors LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

Providence Capital Advisors LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,218 shares of the oil and gas company’s stock after buying an additional 240 shares during the quarter. Providence Capital Advisors LLC’s holdings in Chevron were worth $2,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CVX. Bank Julius Baer & Co. Ltd Zurich lifted its position in Chevron by 100,509.4% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 426,861,553 shares of the oil and gas company’s stock worth $67,166,665,000 after buying an additional 426,437,277 shares during the period. Moneta Group Investment Advisors LLC increased its stake in Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after acquiring an additional 24,467,521 shares during the last quarter. Norges Bank acquired a new stake in Chevron during the fourth quarter worth about $3,058,235,000. Commonwealth Equity Services LLC increased its stake in Chevron by 908.4% during the first quarter. Commonwealth Equity Services LLC now owns 11,450,777 shares of the oil and gas company’s stock worth $186,830,000 after acquiring an additional 10,315,292 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Chevron by 76.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,667,484 shares of the oil and gas company’s stock worth $3,839,241,000 after acquiring an additional 10,257,980 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 1.9 %

NYSE CVX traded up $2.69 during mid-day trading on Friday, reaching $144.46. 11,077,904 shares of the company’s stock traded hands, compared to its average volume of 12,759,151. Chevron Co. has a 1-year low of $140.74 and a 1-year high of $187.81. The company has a fifty day simple moving average of $158.68 and a 200-day simple moving average of $158.21. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. The company has a market cap of $272.70 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 0.73 and a beta of 1.16.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $3.05 earnings per share for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). Chevron had a net margin of 12.11% and a return on equity of 16.15%. The business had revenue of $54.08 billion for the quarter, compared to analyst estimates of $51.41 billion. During the same quarter last year, the business earned $5.56 EPS. Chevron’s revenue for the quarter was down 18.9% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 13.59 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Thursday, November 16th. Chevron’s dividend payout ratio is presently 44.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. The Goldman Sachs Group upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $166.00 to $187.00 in a research note on Monday, July 31st. Mizuho dropped their price target on Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, November 14th. Sanford C. Bernstein upgraded Chevron from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $184.00 to $182.00 in a research note on Thursday, November 2nd. Morgan Stanley lowered their target price on Chevron from $203.00 to $201.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 17th. Finally, HSBC increased their target price on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.89.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.