Linscomb Wealth Inc. Has $12.86 Million Stock Position in Chevron Co. (NYSE:CVX)

Linscomb Wealth Inc. lifted its stake in Chevron Co. (NYSE:CVX) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,226 shares of the oil and gas company’s stock after buying an additional 76 shares during the period. Chevron comprises approximately 0.7% of Linscomb Wealth Inc.’s holdings, making the stock its 20th largest holding. Linscomb Wealth Inc.’s holdings in Chevron were worth $12,862,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. American Capital Advisory LLC boosted its holdings in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in Chevron in the fourth quarter worth $30,000. Anfield Capital Management LLC grew its holdings in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $40,000. Finally, Clear Investment Research LLC raised its holdings 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 valued at $42,000 after buying an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVX. Scotiabank lowered their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein downgraded 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 report on Wednesday, July 17th. Royal Bank of Canada lowered their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Truist Financial cut their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Down 1.5 %

NYSE:CVX opened at $138.22 on Wednesday. Chevron Co. has a 1 year low of $137.09 and a 1 year high of $171.70. The stock has a 50-day moving average price of $150.13 and a two-hundred day moving average price of $155.04. The stock has a market cap of $254.73 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 2.34 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the firm posted $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.72%. Chevron’s 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.