Focus Financial Network Inc. Acquires 518 Shares of Chevron Co. (NYSE:CVX)

Focus Financial Network Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 3.2% during the second quarter, HoldingsChannel reports. The fund owned 16,783 shares of the oil and gas company’s stock after purchasing an additional 518 shares during the quarter. Focus Financial Network Inc.’s holdings in Chevron were worth $2,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Liberty One Investment Management LLC increased its holdings in shares of Chevron by 18.8% in the second quarter. Liberty One Investment Management LLC now owns 23,437 shares of the oil and gas company’s stock worth $3,666,000 after purchasing an additional 3,711 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Chevron in the second quarter worth $625,000. Sanibel Captiva Trust Company Inc. increased its holdings in shares of Chevron by 6.3% in the second quarter. Sanibel Captiva Trust Company Inc. now owns 151,581 shares of the oil and gas company’s stock worth $23,710,000 after purchasing an additional 8,972 shares during the period. Consolidated Investment Group LLC increased its holdings in shares of Chevron by 32.8% in the second quarter. Consolidated Investment Group LLC now owns 24,700 shares of the oil and gas company’s stock worth $3,864,000 after purchasing an additional 6,100 shares during the period. Finally, BigSur Wealth Management LLC increased its holdings in shares of Chevron by 7.0% in the second quarter. BigSur Wealth Management LLC now owns 9,200 shares of the oil and gas company’s stock worth $1,439,000 after purchasing an additional 600 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Royal Bank of Canada decreased their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Barclays reduced their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Scotiabank reduced their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, HSBC increased their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Trading Up 0.7 %

Shares of Chevron stock traded up $1.05 during trading on Wednesday, reaching $145.74. 2,024,503 shares of the stock were exchanged, compared to its average volume of 7,832,000. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The firm has a market cap of $268.59 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $153.39 and its 200 day moving average is $155.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 business had revenue of $51.18 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.08 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.47%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.