Capital Planning Advisors LLC Buys 1,876 Shares of Chevron Corporation (NYSE:CVX)

Key Points

• Capital Planning Advisors LLC increased its stake in Chemron Corporation by 6.9%, acquiring an additional 1,876 shares, bringing its total holdings to 28,990 shares valued at approximately $4.85 million.
• Chevron recently reported earnings of $1.77 EPS for the last quarter, surpassing analysts' expectations, despite a 12.4% decline in quarterly revenue year-over-year.
• The company will pay a quarterly dividend of $1.71 per share, reflecting a dividend yield of 4.4% and a payout ratio of 88.03%.

Capital Planning Advisors LLC lifted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,990 shares of the oil and gas company's stock after buying an additional 1,876 shares during the period. Capital Planning Advisors LLC's holdings in Chevron were worth $4,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CVX. Public Sector Pension Investment Board lifted its stake in Chevron by 3.1% during the first quarter. Public Sector Pension Investment Board now owns 446,893 shares of the oil and gas company's stock worth $74,761,000 after purchasing an additional 13,243 shares during the last quarter. Todd Asset Management LLC lifted its stake in Chevron by 4.5% during the first quarter. Todd Asset Management LLC now owns 15,147 shares of the oil and gas company's stock worth $2,534,000 after purchasing an additional 648 shares during the last quarter. WP Advisors LLC lifted its stake in Chevron by 1.0% during the first quarter. WP Advisors LLC now owns 17,604 shares of the oil and gas company's stock worth $2,945,000 after purchasing an additional 171 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in Chevron by 6.1% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 5,088 shares of the oil and gas company's stock worth $858,000 after purchasing an additional 294 shares during the last quarter. Finally, Ballast Inc. lifted its stake in Chevron by 11.7% during the first quarter. Ballast Inc. now owns 1,860 shares of the oil and gas company's stock worth $311,000 after purchasing an additional 195 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVX shares. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. Scotiabank reiterated a "sector perform" rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 price target on shares of Chevron in a report on Friday, August 1st. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Finally, Evercore ISI reiterated an "outperform" rating and set a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of "Hold" and an average target price of $164.11.

Chevron Trading Up 0.6%

Chevron stock traded up $0.93 during trading hours on Tuesday, reaching $154.38. 6,641,283 shares of the company's stock were exchanged, compared to its average volume of 12,062,080. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm's 50 day simple moving average is $149.07 and its 200 day simple moving average is $148.55. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market capitalization of $266.77 billion, a PE ratio of 19.87, a PEG ratio of 2.30 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the business posted $2.55 EPS. The business's revenue was down 12.4% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Chevron 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.