Lyell Wealth Management LP Acquires 4,994 Shares of Chevron Co. (NYSE:CVX)

Lyell Wealth Management LP grew its holdings in Chevron Co. (NYSE:CVX) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 57,388 shares of the oil and gas company’s stock after purchasing an additional 4,994 shares during the period. Lyell Wealth Management LP’s holdings in Chevron were worth $8,977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Norges Bank bought a new position in shares of Chevron in the 4th quarter valued at $2,902,007,000. Berkshire Hathaway Inc increased its stake in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares during the last quarter. Capital World Investors increased its stake in shares of Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after purchasing an additional 4,700,289 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Chevron by 13.0% in the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock valued at $2,330,235,000 after purchasing an additional 1,797,171 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of Chevron by 68,604.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock valued at $180,158,000 after purchasing an additional 1,206,059 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial reduced their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Barclays reduced their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada reduced their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Up 1.0 %

Shares of NYSE:CVX opened at $140.61 on Friday. The company has a market capitalization of $257.16 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 2.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The business’s 50-day moving average is $149.12 and its 200-day moving average is $154.73. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business 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%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.08 earnings per share. Equities research analysts predict that Chevron Co. will post 11.63 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Chevron 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.