Oak Harvest Investment Services Grows Stock Position in Chevron Co. (NYSE:CVX)

Oak Harvest Investment Services boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 46.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,780 shares of the oil and gas company’s stock after buying an additional 26,069 shares during the quarter. Chevron makes up about 1.7% of Oak Harvest Investment Services’ investment portfolio, making the stock its 11th largest holding. Oak Harvest Investment Services’ holdings in Chevron were worth $12,044,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Ameriprise Financial Inc. grew its position in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Capital World Investors boosted its position in shares of Chevron by 3.2% during 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 acquiring an additional 495,879 shares during the last quarter. Legal & General Group Plc grew its stake in Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after acquiring an additional 629,644 shares in the last quarter. Capital International Investors increased its holdings in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Chevron by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 0.3 %

CVX opened at $148.06 on Thursday. 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 firm has a market cap of $270.79 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 3.29 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a fifty day moving average price of $146.79 and a 200-day moving average price of $153.04.

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 firm 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 company posted $3.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.40%. Chevron’s payout ratio is 64.55%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Barclays cut their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.07.

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.