Spirit of America Management Corp NY Has $13.08 Million Position in Chevron Co. (NYSE:CVX)

Spirit of America Management Corp NY lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,590 shares of the oil and gas company’s stock after selling 7,300 shares during the quarter. Chevron comprises 2.7% of Spirit of America Management Corp NY’s portfolio, making the stock its 6th biggest holding. Spirit of America Management Corp NY’s holdings in Chevron were worth $13,075,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Kapstone Financial Advisors LLC boosted its position in shares of 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 worth $626,000 after acquiring an additional 211 shares during the last quarter. Eagle Capital Management LLC boosted its holdings in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the last quarter. Lane & Associates LLC purchased a new position in shares of Chevron during the first quarter valued at about $345,000. Guyasuta Investment Advisors Inc. increased its holdings in shares of Chevron by 1.7% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after purchasing an additional 3,603 shares during the last quarter. Finally, Seven Mile Advisory lifted its position in shares of Chevron by 9.8% in the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after buying an additional 247 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. 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 report on Monday, August 5th. Truist Financial reduced 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. HSBC upped their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Wells Fargo & Company boosted their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Scotiabank lowered their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Seven equities 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 presently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Up 1.3 %

NYSE:CVX traded up $1.89 during trading hours on Friday, reaching $147.62. The company’s stock had a trading volume of 4,824,078 shares, compared to its average volume of 7,814,477. The company has a market capitalization of $272.06 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The stock has a 50 day moving average price of $152.97 and a two-hundred day moving average price of $155.81.

Chevron (NYSE:CVX) last posted 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). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $3.08 earnings per share. Equities analysts predict that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

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.