Quilter Plc Raises Position in Chevron Co. (NYSE:CVX)

Quilter Plc grew its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 448,941 shares of the oil and gas company's stock after buying an additional 12,180 shares during the period. Chevron makes up 1.6% of Quilter Plc's portfolio, making the stock its 24th biggest position. Quilter Plc's holdings in Chevron were worth $70,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc raised its position in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company's stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Norges Bank acquired a new stake in Chevron in the 4th quarter valued at approximately $2,902,007,000. Bank of New York Mellon Corp raised its position in Chevron by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company's stock valued at $2,540,135,000 after buying an additional 654,482 shares during the last quarter. Capital World Investors raised its position in Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock valued at $2,525,380,000 after buying an additional 495,879 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in 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 buying an additional 1,797,171 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent research reports. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a "hold" rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an "outperform" rating on the stock in a research report on Monday, August 5th. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a "peer perform" rating on the stock. Scotiabank lowered their price target on Chevron from $195.00 to $180.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 12th. Finally, Sanford C. Bernstein lowered Chevron from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven equities research 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $183.82.

Chevron Price Performance

Shares of Chevron stock traded up $1.40 during trading on Friday, reaching $140.61. 5,900,747 shares of the company's stock were exchanged, compared to its average volume of 6,587,339. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The company has a market cap of $257.16 billion, a P/E ratio of 12.94, a PEG ratio of 2.41 and a beta of 1.09. The firm's 50-day moving average price is $149.12 and its 200 day moving average price is $154.75.

Chevron (NYSE:CVX - Get Free Report) last issued its 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company earned $3.08 EPS. Chevron's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Dividend Announcement

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