Envestnet Asset Management Inc. Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Envestnet Asset Management Inc. grew its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,288,013 shares of the oil and gas company's stock after buying an additional 68,548 shares during the period. Envestnet Asset Management Inc. owned 0.29% of Chevron worth $827,151,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. American Capital Advisory LLC lifted its stake 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 acquiring an additional 125 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at approximately $30,000. Anfield Capital Management LLC increased its holdings in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after buying an additional 118 shares during the period. Cooksen Wealth LLC bought a new position in Chevron in the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC lifted its holdings in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company's stock worth $42,000 after buying an additional 204 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVX. Scotiabank cut their price target on Chevron from $195.00 to $180.00 and set a "sector outperform" rating on the stock in a report on Friday, July 12th. Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an "outperform" rating on the stock in a research note on Monday, August 5th. Barclays decreased their price target on shares of Chevron from $203.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Finally, Truist Financial reduced their price objective on shares of Chevron from $156.00 to $154.00 and set a "hold" rating for the company in a research note on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of "Moderate Buy" and a consensus target price of $183.82.

Chevron Stock Performance

Shares of CVX stock traded up $1.40 during mid-day trading on Friday, reaching $140.61. The stock had a trading volume of 5,900,747 shares, compared to its average volume of 7,775,292. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The firm has a market cap of $257.16 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.37 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. The business's fifty day moving average is $149.12 and its 200-day moving average is $154.73.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results 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 for 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 business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.08 earnings per share. On average, research analysts forecast that Chevron Co. will post 11.63 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend was Monday, August 19th. 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.