Dimensional Fund Advisors LP Boosts Stake in Chevron Co. (NYSE:CVX)

Dimensional Fund Advisors LP raised its position in Chevron Co. (NYSE:CVX) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,021,023 shares of the oil and gas company’s stock after buying an additional 126,889 shares during the period. Chevron makes up about 0.5% of Dimensional Fund Advisors LP’s holdings, making the stock its 12th biggest holding. Dimensional Fund Advisors LP’s holdings in Chevron were worth $2,036,846,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Pacifica Partners Inc. raised its position in 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 acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC raised its position in Chevron by 15.7% during the first 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 in the last quarter. Montz Harcus Wealth Management LLC raised its position in Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its position in 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 acquiring an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group raised 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 acquiring an additional 65 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 1.0 %

CVX opened at $140.61 on Monday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm’s fifty day moving average price is $149.12 and its two-hundred day moving average price is $154.75. The company has a market capitalization of $257.16 billion, a P/E ratio of 12.94, a P/E/G ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last issued 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the firm posted $3.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 11.57 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.64%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Ratings Changes

A number of research firms have recently commented on CVX. Barclays dropped their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada dropped their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Truist Financial dropped their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target 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.