Everett Harris & Co. CA cut its holdings in Chevron Co. (NYSE:CVX) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 477,084 shares of the oil and gas company’s stock after selling 9,895 shares during the period. Chevron accounts for 0.9% of Everett Harris & Co. CA’s portfolio, making the stock its 28th largest holding. Everett Harris & Co. CA’s holdings in Chevron were worth $42,570,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Chevron by 4.9% during the 1st quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock worth $9,665,343,000 after acquiring an additional 6,208,177 shares during the period. Franklin Resources Inc. raised its holdings in shares of Chevron by 57.5% in the first quarter. Franklin Resources Inc. now owns 13,548,338 shares of the oil and gas company’s stock worth $981,712,000 after buying an additional 4,944,811 shares during the period. Capital International Investors boosted its position in Chevron by 12.9% in the 1st quarter. Capital International Investors now owns 36,799,529 shares of the oil and gas company’s stock valued at $2,666,493,000 after buying an additional 4,218,942 shares during the period. State Street Corp increased its holdings in Chevron by 2.6% during the 1st quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after purchasing an additional 2,914,316 shares during the period. Finally, Eaton Vance Management increased its stake in shares of Chevron by 114.2% during the first quarter. Eaton Vance Management now owns 3,558,007 shares of the oil and gas company’s stock valued at $259,115,000 after buying an additional 1,896,930 shares during the period. 64.60% of the stock is currently owned by institutional investors.

Several research firms have weighed in on CVX. Credit Suisse Group boosted their target price on shares of Chevron from $81.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Scotiabank increased their target price on shares of Chevron from $90.00 to $95.00 and gave the stock a “sector outperform” rating in a research note on Monday, July 13th. Wells Fargo & Co lifted their price target on Chevron from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Piper Sandler boosted their price target on shares of Chevron from $96.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Independent Research lowered shares of Chevron to a “hold” rating in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $111.25.

CVX stock opened at $83.94 on Friday. Chevron Co. has a 1 year low of $51.60 and a 1 year high of $125.27. The firm has a market cap of $156.71 billion, a P/E ratio of 40.95, a PEG ratio of 21.46 and a beta of 1.29. The stock’s 50 day moving average price is $88.84 and its 200 day moving average price is $92.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.78 and a current ratio of 1.01.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66). The company had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $21.71 billion. Chevron had a return on equity of 8.28% and a net margin of 2.71%. The company’s revenue for the quarter was down 64.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 EPS. On average, research analysts predict that Chevron Co. will post 0.8 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Tuesday, August 18th. Chevron’s dividend payout ratio is presently 82.30%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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