Parcion Private Wealth LLC Buys 566 Shares of Chevron Co. (NYSE:CVX)

Parcion Private Wealth LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,381 shares of the oil and gas company’s stock after buying an additional 566 shares during the period. Parcion Private Wealth LLC’s holdings in Chevron were worth $7,099,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. American Capital Advisory LLC lifted its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at approximately $30,000. Anfield Capital Management LLC lifted its stake in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC increased its stake in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 1.7 %

Shares of Chevron stock traded down $2.37 during midday trading on Friday, reaching $138.56. The company had a trading volume of 7,836,358 shares, compared to its average volume of 7,768,067. The firm has a market cap of $255.36 billion, a PE ratio of 12.74, a P/E/G ratio of 2.50 and a beta of 1.09. The stock has a fifty day moving average price of $150.82 and a 200 day moving average price of $155.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a fifty-two week low of $137.87 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.08 EPS. On average, equities analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.71%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial reduced their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Royal Bank of Canada reduced their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Barclays cut their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Mizuho upped their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $183.82.

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.