Chevron Co. (NYSE:CVX) Shares Bought by Lane & Associates LLC

Lane & Associates LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 14.2% during the 2nd quarter, Holdings Channel reports. The firm owned 2,495 shares of the oil and gas company’s stock after buying an additional 310 shares during the period. Lane & Associates LLC’s holdings in Chevron were worth $390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Chevron in the 4th quarter valued at approximately $2,902,007,000. Berkshire Hathaway Inc boosted its holdings in Chevron by 14.4% in 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 purchasing an additional 15,845,037 shares during the period. Capital World Investors grew its stake in Chevron by 43.5% during the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Chevron by 73,888.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after purchasing an additional 4,596,584 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Chevron by 13.0% during the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock worth $2,330,235,000 after purchasing an additional 1,797,171 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $140.30 on Tuesday. 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 stock has a market cap of $256.60 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.34 and a beta of 1.09. The stock has a 50 day moving average of $150.50 and a two-hundred day moving average of $155.16. Chevron Co. has a twelve month low of $137.87 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last released 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 net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the company earned $3.08 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CVX shares. Barclays lowered their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Truist Financial lowered their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Scotiabank reduced their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Mizuho lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Royal Bank of Canada dropped their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Company 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.