Chevron Co. (NYSE:CVX) Stake Lifted by Altrius Capital Management Inc

Altrius Capital Management Inc lifted its stake in shares of Chevron Co. (NYSE:CVX) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,899 shares of the oil and gas company’s stock after acquiring an additional 631 shares during the quarter. Altrius Capital Management Inc’s holdings in Chevron were worth $3,289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berkeley Capital Partners LLC boosted its stake in shares of Chevron by 13.1% during the 2nd quarter. Berkeley Capital Partners LLC now owns 14,333 shares of the oil and gas company’s stock worth $2,255,000 after acquiring an additional 1,661 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Chevron by 13.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 79,961 shares of the oil and gas company’s stock valued at $12,582,000 after purchasing an additional 9,477 shares during the last quarter. Kooman & Associates boosted its position in shares of Chevron by 11.2% in the 2nd quarter. Kooman & Associates now owns 1,568 shares of the oil and gas company’s stock valued at $247,000 after purchasing an additional 158 shares during the period. Reuter James Wealth Management LLC increased its stake in Chevron by 30.6% in the 2nd quarter. Reuter James Wealth Management LLC now owns 6,659 shares of the oil and gas company’s stock worth $1,048,000 after purchasing an additional 1,561 shares in the last quarter. Finally, Great Lakes Retirement Inc. raised its holdings in Chevron by 0.9% during the 2nd quarter. Great Lakes Retirement Inc. now owns 7,789 shares of the oil and gas company’s stock worth $1,226,000 after buying an additional 73 shares during the period. Institutional investors own 68.87% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock traded up $0.51 on Monday, reaching $144.97. The stock had a trading volume of 2,469,407 shares, compared to its average volume of 8,354,430. Chevron Co. has a fifty-two week low of $140.74 and a fifty-two week high of $187.81. The business’s 50-day moving average price is $158.68 and its two-hundred day moving average price is $158.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25. The stock has a market cap of $273.67 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.73 and a beta of 1.16.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share (EPS) 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 firm had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. During the same quarter last year, the company earned $5.56 earnings per share. The firm’s revenue was down 18.9% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Co. will post 13.59 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is currently 44.84%.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Tuesday, October 24th. Sanford C. Bernstein upgraded shares of Chevron from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $184.00 to $182.00 in a research report on Thursday, November 2nd. HSBC increased their target price on Chevron from $180.00 to $184.00 in a report on Wednesday, August 9th. Raymond James lowered their price target on Chevron from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Finally, BNP Paribas raised Chevron from a “neutral” rating to an “outperform” rating and set a $190.00 target price on the stock in a research note on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $187.89.

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; 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.