Commonwealth Retirement Investments LLC Has $7.30 Million Holdings in Chevron Co. (NYSE:CVX)

Commonwealth Retirement Investments LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 7.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 46,639 shares of the oil and gas company’s stock after buying an additional 3,344 shares during the period. Chevron makes up about 3.3% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 7th largest position. Commonwealth Retirement Investments LLC’s holdings in Chevron were worth $7,295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. American Capital Advisory LLC increased its position in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Chevron in the 4th quarter worth approximately $30,000. Anfield Capital Management LLC raised its stake in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cooksen Wealth LLC purchased a new position in Chevron during the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its position in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $138.48 on Friday. Chevron Co. has a 52 week low of $137.87 and a 52 week high of $171.70. The firm has a market capitalization of $255.21 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. The company has a fifty day simple moving average of $150.82 and a two-hundred day simple moving average of $155.26. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.08 EPS. Analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.71%. Chevron’s payout ratio is presently 59.98%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Truist Financial decreased their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Barclays dropped their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Scotiabank dropped their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

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.