E Fund Management Co. Ltd. Boosts Holdings in Chevron Co. (NYSE:CVX)

E Fund Management Co. Ltd. boosted its position in Chevron Co. (NYSE:CVX) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,858 shares of the oil and gas company’s stock after purchasing an additional 1,068 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Chevron were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Alliance lifted its stake in Chevron by 24.3% in the 2nd quarter. Wealth Alliance now owns 21,809 shares of the oil and gas company’s stock worth $3,411,000 after purchasing an additional 4,259 shares in the last quarter. Financial & Tax Architects LLC increased its holdings in shares of Chevron by 4.2% in the 2nd quarter. Financial & Tax Architects LLC now owns 37,738 shares of the oil and gas company’s stock worth $5,903,000 after buying an additional 1,524 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of Chevron by 615.4% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,023 shares of the oil and gas company’s stock worth $160,000 after buying an additional 880 shares during the last quarter. Clearstead Trust LLC increased its holdings in shares of Chevron by 0.6% in the 2nd quarter. Clearstead Trust LLC now owns 15,444 shares of the oil and gas company’s stock worth $2,416,000 after buying an additional 94 shares during the last quarter. Finally, Plancorp LLC increased its holdings in shares of Chevron by 0.7% in the 2nd quarter. Plancorp LLC now owns 10,266 shares of the oil and gas company’s stock worth $1,606,000 after buying an additional 73 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 1.0 %

Shares of CVX opened at $143.46 on Wednesday. The stock has a market capitalization of $262.38 billion, a P/E ratio of 13.20, a PEG ratio of 2.41 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $148.69 and a two-hundred day simple moving average of $154.61. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last posted its 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the business posted $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 11.57 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.54%. Chevron’s dividend payout ratio is 59.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVX. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $182.88.

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.