Benedict Financial Advisors Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,778 shares of the oil and gas company’s stock after selling 138 shares during the quarter. Chevron accounts for 1.4% of Benedict Financial Advisors Inc.’s portfolio, making the stock its 26th largest position. Benedict Financial Advisors Inc.’s holdings in Chevron were worth $3,457,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Guidant Wealth Advisors increased its stake in Chevron by 63.9% in the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC bought a new stake in shares of Chevron during the 2nd quarter worth approximately $34,000. Cordasco Financial Network lifted its stake in Chevron by 55.3% in the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 135 shares during the last quarter. Ashburton Jersey Ltd acquired a new position in shares of Chevron during the 2nd quarter worth about $54,000. Finally, Thor Advisors LLC acquired a new stake in Chevron in the 1st quarter valued at about $67,000. 65.79% of the stock is owned by hedge funds and other institutional investors.
CVX has been the subject of a number of research reports. Barclays began coverage on shares of Chevron in a research note on Monday, August 19th. They set an “overweight” rating and a $145.00 target price for the company. Cowen set a $140.00 price objective on Chevron and gave the stock a “buy” rating in a research report on Friday, August 30th. Independent Research set a $127.00 target price on shares of Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley reduced their price target on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, BMO Capital Markets initiated coverage on shares of Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and an average target price of $136.22.
NYSE CVX opened at $121.28 on Thursday. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $127.60. The company has a market cap of $226.65 billion, a P/E ratio of 14.70, a PEG ratio of 2.97 and a beta of 1.01. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $119.43 and a 200 day simple moving average of $121.28.
Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The company had revenue of $38.85 billion during the quarter, compared to the consensus estimate of $40.14 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 6.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 3.92%. The ex-dividend date was Friday, August 16th. Chevron’s dividend payout ratio is 57.70%.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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