Motiv8 Investments LLC Purchases 93 Shares of Chevron Co. (NYSE:CVX)

Motiv8 Investments LLC boosted its position in Chevron Co. (NYSE:CVX) by 1.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,328 shares of the oil and gas company’s stock after purchasing an additional 93 shares during the quarter. Motiv8 Investments LLC’s holdings in Chevron were worth $833,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Chevron during the fourth quarter valued at about $2,902,007,000. Berkshire Hathaway Inc increased its holdings in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Capital World Investors increased its holdings in shares of Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after acquiring an additional 4,700,289 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Chevron by 73,888.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after acquiring an additional 4,596,584 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Chevron by 13.0% during the fourth quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock valued at $2,330,235,000 after acquiring an additional 1,797,171 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE:CVX traded down $2.37 during midday trading on Friday, reaching $138.56. 7,836,358 shares of the company’s stock traded hands, compared to its average volume of 7,768,067. Chevron Co. has a 1 year low of $137.87 and a 1 year high of $171.70. The company has a market cap of $255.36 billion, a P/E ratio of 12.74, a PEG ratio of 2.50 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a fifty day simple moving average of $150.82 and a two-hundred day simple moving average of $155.26.

Chevron (NYSE:CVX) last announced its 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the business earned $3.08 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Barclays cut their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank cut their price target 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. Finally, Truist Financial cut their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.82.

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.