Biltmore Family Office LLC Purchases 229 Shares of Chevron Co. (NYSE:CVX)

Biltmore Family Office LLC boosted its position in Chevron Co. (NYSE:CVX) by 13.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,881 shares of the oil and gas company’s stock after acquiring an additional 229 shares during the period. Biltmore Family Office LLC’s holdings in Chevron were worth $294,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CVX. Pacifica Partners Inc. boosted its position in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC boosted its holdings in shares of Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after acquiring an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC grew its stake in shares of Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC raised its holdings in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares during the last quarter. Finally, Ellenbecker Investment Group lifted its position in Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $138.22 on Wednesday. The stock has a market cap of $254.73 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. Chevron Co. has a 1 year low of $137.09 and a 1 year high of $171.70. The firm has a fifty day moving average price of $150.13 and a 200-day moving average price of $155.04. 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 (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) 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 analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.08 EPS. Equities analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.72%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CVX shares. Barclays cut their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. 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 report on Friday, July 12th. Wolfe Research began coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada cut their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Truist Financial lowered their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.