Moors & Cabot Inc. Buys 392 Shares of Chevron Co. (NYSE:CVX)

Moors & Cabot Inc. lifted its stake in Chevron Co. (NYSE:CVX) by 0.4% in the second quarter, HoldingsChannel.com reports. The fund owned 97,669 shares of the oil and gas company’s stock after purchasing an additional 392 shares during the period. Chevron accounts for 0.8% of Moors & Cabot Inc.’s holdings, making the stock its 20th biggest position. Moors & Cabot Inc.’s holdings in Chevron were worth $15,277,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Berkshire Hathaway Inc grew its position in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Chevron by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after buying an additional 654,482 shares during the last quarter. Capital World Investors grew its holdings in shares of Chevron by 3.2% in 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 period. Franklin Resources Inc. increased its position in Chevron by 13.0% during the fourth quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock valued at $2,330,235,000 after acquiring an additional 1,797,171 shares during the last quarter. Finally, Capital International Investors lifted its holdings in Chevron by 5.9% in the first 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 period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 1.1 %

CVX stock opened at $142.11 on Tuesday. The company has a market capitalization of $259.91 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 2.41 and a beta of 1.09. 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 1-year low of $135.37 and a 1-year high of $171.70. The business has a 50 day simple moving average of $148.88 and a two-hundred day simple moving average of $154.68.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.08 earnings per share. Research analysts anticipate that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.59%. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday. Scotiabank reduced their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $182.88.

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.