Ackerman Capital Advisors LLC Purchases 100 Shares of Chevron Co. (NYSE:CVX)

Ackerman Capital Advisors LLC grew its position in Chevron Co. (NYSE:CVX) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,807 shares of the oil and gas company’s stock after purchasing an additional 100 shares during the period. Ackerman Capital Advisors LLC’s holdings in Chevron were worth $1,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. American Capital Advisory LLC grew its holdings 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 valued at $25,000 after acquiring an additional 125 shares in the last quarter. Bare Financial Services Inc acquired a new position in shares of Chevron during the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at $30,000. Cooksen Wealth LLC acquired a new stake in Chevron in the 4th quarter valued at about $40,000. Finally, Clear Investment Research LLC boosted its stake in shares of Chevron by 264.9% during 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 during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVX has been the topic of several research reports. Wells Fargo & Company upped their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. HSBC increased their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays reduced their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Scotiabank decreased their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Trading Up 0.6 %

Shares of NYSE:CVX traded up $0.88 during mid-day trading on Monday, reaching $148.50. 5,774,248 shares of the company’s stock were exchanged, compared to its average volume of 7,802,058. The firm has a market capitalization of $273.68 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 2.46 and a beta of 1.10. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The business’s fifty day moving average price is $152.97 and its 200-day moving average price is $155.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS 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 analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.08 earnings per share. On average, research analysts predict that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is presently 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.