Gerber Kawasaki Wealth & Investment Management Grows Stake in Chevron Co. (NYSE:CVX)

Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Chevron Co. (NYSE:CVX) by 41.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,902 shares of the oil and gas company’s stock after acquiring an additional 856 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Chevron were worth $303,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Chevron during the second quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Chevron during the first quarter worth about $31,000. Horan Securities Inc. grew its position in shares of Chevron by 196.0% during the second quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 196 shares in the last quarter. Newton One Investments LLC purchased a new stake in shares of Chevron during the second quarter worth about $34,000. Finally, Lake Point Wealth Management purchased a new stake in shares of Chevron during the second quarter worth about $43,000. Hedge funds and other institutional investors own 65.78% of the company’s stock.

Several equities analysts have weighed in on CVX shares. Piper Sandler raised their price target on Chevron from $126.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, July 23rd. They noted that the move was a valuation call. Morgan Stanley raised their price objective on Chevron from $127.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, June 18th. Wells Fargo & Company lowered their price objective on Chevron from $110.00 to $107.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 15th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $127.00 to $112.00 in a research note on Thursday, July 22nd. Finally, Zacks Investment Research raised Chevron from a “hold” rating to a “strong-buy” rating and set a $118.00 price objective for the company in a research note on Wednesday, August 4th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $118.29.

Shares of CVX stock opened at $96.76 on Monday. Chevron Co. has a 1-year low of $65.16 and a 1-year high of $113.11. The stock’s fifty day moving average price is $99.12 and its 200 day moving average price is $103.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 0.95. The company has a market cap of $187.13 billion, a price-to-earnings ratio of 51.74, a price-to-earnings-growth ratio of 2.85 and a beta of 1.32.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.12. The company had revenue of $37.60 billion during the quarter, compared to analysts’ expectations of $35.98 billion. Chevron had a return on equity of 3.89% and a net margin of 3.01%. The firm’s revenue was up 169.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.59) EPS. As a group, equities research analysts anticipate that Chevron Co. will post 6.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Thursday, August 19th were issued a $1.34 dividend. The ex-dividend date of this dividend was Wednesday, August 18th. This represents a $5.36 annualized dividend and a dividend yield of 5.54%. Chevron’s dividend payout ratio (DPR) is presently -2,680.00%.

About Chevron

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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