Wulff Hansen & CO. Boosts Stake in Chevron Co. (NYSE:CVX)

Wulff Hansen & CO. lifted its holdings in Chevron Co. (NYSE:CVX) by 15,542.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,175,653 shares of the oil and gas company’s stock after buying an additional 1,168,137 shares during the period. Chevron makes up approximately 1.0% of Wulff Hansen & CO.’s portfolio, making the stock its 23rd biggest holding. Wulff Hansen & CO. owned 0.06% of Chevron worth $183,896,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CVX. Eagle Capital Management LLC grew its stake in Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC bought a new position in Chevron during the first quarter valued at about $345,000. Seven Mile Advisory increased its holdings in Chevron by 9.8% during the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after buying an additional 247 shares during the last quarter. KCM Investment Advisors LLC raised its position in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares during the period. Finally, Livelsberger Financial Advisory purchased a new position in Chevron in the fourth quarter valued at about $46,000. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVX shares. Royal Bank of Canada decreased their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays dropped their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Scotiabank lowered their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.88.

Chevron Price Performance

Shares of NYSE:CVX opened at $142.11 on Tuesday. The company has a 50 day moving average of $148.88 and a 200 day moving average of $154.68. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market cap of $259.91 billion, a P/E ratio of 13.07, a P/E/G ratio of 2.41 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70.

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 analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $3.08 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.59%. Chevron’s dividend payout ratio is currently 59.98%.

About Chevron

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.