Chevron Co. (NYSE:CVX) Stock Holdings Lifted by QV Investors Inc.

QV Investors Inc. grew its stake in shares of Chevron Co. (NYSE:CVX) by 0.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 22,757 shares of the oil and gas company’s stock after acquiring an additional 110 shares during the period. QV Investors Inc.’s holdings in Chevron were worth $3,560,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVX. International Assets Investment Management LLC increased its stake in Chevron by 4.9% in the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after purchasing an additional 1,005 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Chevron in the fourth quarter worth about $83,000. Costello Asset Management INC raised its holdings in shares of Chevron by 4.5% during the fourth quarter. Costello Asset Management INC now owns 5,890 shares of the oil and gas company’s stock valued at $878,000 after acquiring an additional 251 shares during the period. Citizens National Bank Trust Department grew its position in Chevron by 1.3% during the 4th quarter. Citizens National Bank Trust Department now owns 51,268 shares of the oil and gas company’s stock worth $7,647,000 after purchasing an additional 649 shares in the last quarter. Finally, RPG Investment Advisory LLC raised its stake in Chevron by 2.7% during the 4th quarter. RPG Investment Advisory LLC now owns 110,737 shares of the oil and gas company’s stock valued at $16,518,000 after purchasing an additional 2,924 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Royal Bank of Canada decreased their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. HSBC raised their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Mizuho increased their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Performance

NYSE:CVX traded up $0.52 during mid-day trading on Wednesday, hitting $144.67. The stock had a trading volume of 5,802,449 shares, compared to its average volume of 7,898,785. The company’s 50 day simple moving average is $154.39 and its 200 day simple moving average is $156.08. The stock has a market cap of $266.62 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The company 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 $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is 59.98%.

Chevron Company 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.