Chevron Co. (NYSE:CVX) Position Boosted by XTX Topco Ltd

XTX Topco Ltd grew its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 1,690.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,308 shares of the oil and gas company's stock after acquiring an additional 33,336 shares during the period. Chevron comprises 0.5% of XTX Topco Ltd's portfolio, making the stock its 5th largest position. XTX Topco Ltd's holdings in Chevron were worth $5,523,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. lifted its stake in Chevron by 15.2% in the second quarter. Richardson Financial Services Inc. now owns 2,381 shares of the oil and gas company's stock worth $372,000 after acquiring an additional 314 shares during the period. Middleton & Co. Inc. MA raised its holdings in Chevron by 1.0% in the 2nd quarter. Middleton & Co. Inc. MA now owns 20,924 shares of the oil and gas company's stock worth $3,273,000 after purchasing an additional 212 shares in the last quarter. Garner Asset Management Corp boosted its stake in shares of Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company's stock valued at $3,128,000 after purchasing an additional 2,530 shares in the last quarter. Altrius Capital Management Inc increased its position in shares of Chevron by 5.3% during the second quarter. Altrius Capital Management Inc now owns 28,192 shares of the oil and gas company's stock valued at $4,410,000 after buying an additional 1,421 shares during the period. Finally, Carolinas Wealth Consulting LLC raised its stake in Chevron by 12.8% in the second quarter. Carolinas Wealth Consulting LLC now owns 4,038 shares of the oil and gas company's stock worth $631,000 after buying an additional 459 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of Chevron stock traded up $1.02 during trading on Thursday, hitting $144.98. 7,228,775 shares of the company's stock traded hands, compared to its average volume of 7,756,046. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70. The business has a 50-day simple moving average of $148.26 and a 200-day simple moving average of $154.47. The stock has a market capitalization of $265.16 billion, a P/E ratio of 13.34, a PEG ratio of 2.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 company had revenue of $51.18 billion for the quarter, compared to analysts' expectations of $48.68 billion. During the same period in the previous year, the firm earned $3.08 earnings per share. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts forecast that Chevron Co. will post 11.57 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend was Monday, August 19th. Chevron's dividend payout ratio is 59.98%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Truist Financial cut their price objective 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 decreased their price objective on Chevron from $190.00 to $180.00 and set an "outperform" rating for the company in a report on Monday, August 5th. Barclays reduced their target price on shares of Chevron from $203.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th. Scotiabank dropped their price objective on shares of Chevron from $195.00 to $180.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 12th. Finally, Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a report on Monday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $182.41.

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.