Marcum Wealth LLC Boosts Stake in Chevron Co. (NYSE:CVX)

Marcum Wealth LLC lifted its stake in Chevron Co. (NYSE:CVX) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,962 shares of the oil and gas company’s stock after buying an additional 346 shares during the period. Marcum Wealth LLC’s holdings in Chevron were worth $1,567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Exencial Wealth Advisors LLC boosted its position in shares of Chevron by 22.5% in the first quarter. Exencial Wealth Advisors LLC now owns 53,204 shares of the oil and gas company’s stock worth $5,575,000 after buying an additional 9,776 shares during the period. Westpac Banking Corp boosted its position in shares of Chevron by 6.0% in the first quarter. Westpac Banking Corp now owns 175,173 shares of the oil and gas company’s stock worth $18,356,000 after buying an additional 9,872 shares during the period. DAVENPORT & Co LLC boosted its position in shares of Chevron by 15.7% in the second quarter. DAVENPORT & Co LLC now owns 681,068 shares of the oil and gas company’s stock worth $71,335,000 after buying an additional 92,201 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Chevron by 31.5% in the first quarter. Koshinski Asset Management Inc. now owns 18,089 shares of the oil and gas company’s stock worth $1,896,000 after buying an additional 4,330 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Chevron by 5.0% in the first quarter. Fifth Third Bancorp now owns 922,352 shares of the oil and gas company’s stock valued at $96,653,000 after purchasing an additional 44,220 shares during the last quarter. 65.78% of the stock is owned by institutional investors.

NYSE CVX traded up $1.87 on Wednesday, reaching $98.07. 168,036 shares of the stock traded hands, compared to its average volume of 10,414,321. The firm’s fifty day simple moving average is $99.47 and its 200 day simple moving average is $103.55. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. The company has a market cap of $189.66 billion, a price-to-earnings ratio of 51.66, a P/E/G ratio of 2.85 and a beta of 1.32. Chevron Co. has a 12 month low of $65.16 and a 12 month high of $113.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.12. The firm had revenue of $37.60 billion during the quarter, compared to analyst estimates of $35.98 billion. Chevron had a return on equity of 3.89% and a net margin of 3.01%. The firm’s quarterly revenue was up 169.5% on a year-over-year basis. During the same period last year, the company posted ($1.59) EPS. As a group, equities research analysts forecast that Chevron Co. will post 6.74 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Thursday, August 19th were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date was Wednesday, August 18th. Chevron’s payout ratio is currently -2,680.00%.

A number of research analysts recently commented on the company. Zacks Investment Research raised Chevron from a “hold” rating to a “strong-buy” rating and set a $118.00 price target for the company in a report on Wednesday, August 4th. TheStreet raised Chevron from a “c” rating to a “b-” rating in a report on Friday, July 30th. Redburn Partners raised Chevron from a “neutral” rating to a “buy” rating in a report on Thursday, July 22nd. HSBC cut Chevron from a “buy” rating to a “hold” rating and cut their price objective for the company from $127.00 to $112.00 in a research note on Thursday, July 22nd. Finally, Morgan Stanley upped their price objective on Chevron from $127.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, June 18th. Eleven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $118.29.

Chevron Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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