Chevron Co. Shares (NYSE:CVX) acquired by Garrett Wealth Advisory Group LLC

VaselineAugust 19, 2024

0 4 minutes read

Garrett Wealth Advisory Group LLC grew its stake in Chevron Co. (NYSE:CVX – Free Report) by 268.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,920 shares of the oil and gas company’s stock after purchasing an additional 5,770 shares during the quarter. Chevron makes up about 0.5% of Garrett Wealth Advisory Group LLC’s holdings, making the stock its 25th largest position. Garrett Wealth Advisory Group LLC’s holdings in Chevron were worth $1,239,000 at the end of the most recent reporting period. .

A number of other hedge funds and other institutional investors have added to or reduced their stakes in the stock. Berkshire Hathaway Inc raised its stake in 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 valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after buying an additional 1,999,332 shares in the last quarter. Norges Bank bought a new stake in shares of Chevron in the 4th quarter valued at $2,902,007,000. Bank of New York Mellon Corp boosted its stake in Chevron by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after buying an additional 654,482 shares in the last quarter. Finally, Capital World Investors boosted its stake in Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s shares.

Analyst upgrades and downgrades

A number of research firms have recently commented on CVX. Scotiabank decreased their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. TD Cowen upped their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the stock. Mizuho raised their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. 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 investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $183.82.

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Indoor activity

In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders hold 0.20% of the company’s stock.

Chevron trading down 0.6%

Shares of Chevron stock traded down $0.94 on Monday, hitting $146.33. The stock had a trading volume of 852,768 shares, compared to its average volume of 7,838,460. The firm has a market cap of $269.68 billion, a P/E ratio of 13.48, a PEG ratio of 2.42 and a beta of 1.10. The stock has a 50-day moving average of $153.82 and a 200-day moving average of $156.02. 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 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX – Get Your Free Report ) last announced its quarterly earnings data 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). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $3.08 EPS. Sell-side analysts expect that Chevron Co. to post 11.96 earnings per share for the current fiscal year.

Chevron announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents an annualized dividend of $6.52 and a yield of 4.46%. The ex-dividend date is Monday, August 19. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Chevron profile

(Free report)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemical 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, transport and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage and trading of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.