Smartleaf Asset Management LLC Acquires 1,032 Shares of Chevron Corporation $CVX

Smartleaf Asset Management LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,219 shares of the oil and gas company’s stock after purchasing an additional 1,032 shares during the period. Smartleaf Asset Management LLC’s holdings in Chevron were worth $3,857,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CVX. Eagle Capital Management LLC boosted its holdings in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after acquiring an additional 242 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after acquiring an additional 2,641 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in Chevron by 54.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 261,860 shares of the oil and gas company’s stock valued at $37,928,000 after acquiring an additional 92,294 shares during the period. Nebula Research & Development LLC boosted its holdings in Chevron by 127.8% during the fourth quarter. Nebula Research & Development LLC now owns 9,208 shares of the oil and gas company’s stock valued at $1,334,000 after acquiring an additional 5,165 shares during the period. Finally, Voya Financial Advisors Inc. boosted its holdings in Chevron by 2.8% during the fourth quarter. Voya Financial Advisors Inc. now owns 4,841 shares of the oil and gas company’s stock valued at $693,000 after acquiring an additional 134 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CVX. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Piper Sandler increased their target price on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Morgan Stanley initiated coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Finally, Scotiabank reiterated a “sector perform” rating and issued a $160.00 target price (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $163.95.

Chevron Stock Performance

NYSE:CVX opened at $157.8970 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $272.84 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.31 and a beta of 0.87. The firm has a 50-day moving average price of $151.21 and a 200 day moving average price of $148.66.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the business posted $2.55 earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

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.