Lakeshore Financial Planning Inc. Acquires 302 Shares of Chevron Co. (NYSE:CVX)

Lakeshore Financial Planning Inc. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 12.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,669 shares of the oil and gas company’s stock after acquiring an additional 302 shares during the period. Lakeshore Financial Planning Inc.’s holdings in Chevron were worth $417,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kapstone Financial Advisors LLC raised its stake in Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares in the last quarter. Eagle Capital Management LLC lifted its position in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the last quarter. Lane & Associates LLC bought a new position in Chevron during the first quarter valued at $345,000. Guyasuta Investment Advisors Inc. lifted its holdings in shares of Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after acquiring an additional 3,603 shares during the last quarter. Finally, Seven Mile Advisory boosted its stake in shares of Chevron by 9.8% during the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX traded up $1.89 during trading hours on Friday, hitting $147.62. 4,824,078 shares of the company were exchanged, compared to its average volume of 7,814,477. The company’s 50 day moving average price is $152.97 and its 200-day moving average price is $155.81. The stock has a market capitalization of $272.06 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.46 and a beta of 1.10. Chevron Co. has a 52-week low of $139.62 and a 52-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.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 period in the previous year, the company earned $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVX. Barclays decreased their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company boosted their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Mizuho lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Scotiabank lowered their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Royal Bank of Canada cut their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus 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.