Gilliland Jeter Wealth Management LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Gilliland Jeter Wealth Management LLC boosted its stake in Chevron Co. (NYSE:CVX) by 1.8% in the second quarter, HoldingsChannel reports. The firm owned 25,341 shares of the oil and gas company’s stock after acquiring an additional 459 shares during the period. Chevron makes up approximately 1.3% of Gilliland Jeter Wealth Management LLC’s holdings, making the stock its 14th largest holding. Gilliland Jeter Wealth Management LLC’s holdings in Chevron were worth $3,964,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. American Capital Advisory LLC increased its stake in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Bare Financial Services Inc bought a new position in shares of Chevron in the fourth quarter worth about $27,000. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron during the 4th quarter valued at about $30,000. Cooksen Wealth LLC bought a new position in shares of Chevron during the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC increased its holdings in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CVX shares. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. TD Cowen increased their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Wells Fargo & Company upped their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Up 1.3 %

Chevron stock traded up $1.89 during midday trading on Friday, hitting $147.62. 4,824,078 shares of the company’s stock were exchanged, compared to its average volume of 7,814,477. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $272.06 billion, a PE ratio of 13.58, a P/E/G ratio of 2.46 and a beta of 1.10. The firm has a 50-day moving average of $152.97 and a two-hundred day moving average of $155.78. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.08 earnings per share. As a group, analysts expect that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is 59.98%.

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.