Citizens Financial Group Inc. RI Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Citizens Financial Group Inc. RI lifted its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 31.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,494 shares of the oil and gas company's stock after purchasing an additional 12,130 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Chevron were worth $7,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Capital Advisory LLC grew its stake in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 125 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $30,000. Anfield Capital Management LLC grew its stake in shares of Chevron by 118.0% during the 2nd 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 period. Cooksen Wealth LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $40,000. Finally, Clear Investment Research LLC grew its stake in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Up 1.1 %

Shares of NYSE CVX traded up $1.48 during trading on Monday, hitting $142.09. 6,862,083 shares of the company were exchanged, compared to its average volume of 7,770,206. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a fifty day moving average price of $149.12 and a 200-day moving average price of $154.75. The firm has a market capitalization of $259.87 billion, a PE ratio of 12.99, a P/E/G ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The firm's revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 11.57 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.59%. Chevron's dividend payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Chevron from $190.00 to $180.00 and set an "outperform" rating on the stock in a research note on Monday, August 5th. Barclays dropped their price target on shares of Chevron from $203.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 6th. Sanford C. Bernstein cut shares of Chevron from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial dropped their price target on shares of Chevron from $156.00 to $154.00 and set a "hold" rating on the stock in a research note on Monday, August 5th. Finally, Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.