Legacy Financial Advisors Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 20.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,848 shares of the oil and gas company’s stock after acquiring an additional 1,148 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Chevron were worth $718,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Johnson Midwest Financial LLC purchased a new position in Chevron during the fourth quarter valued at approximately $27,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Chevron during the 4th quarter worth $28,000. Alpha DNA Investment Management LLC bought a new stake in shares of Chevron during the 4th quarter worth $31,000. Kathmere Capital Management LLC bought a new stake in shares of Chevron during the 3rd quarter worth $33,000. Finally, PARK CIRCLE Co boosted its holdings in shares of Chevron by 300.0% during the 4th quarter. PARK CIRCLE Co now owns 400 shares of the oil and gas company’s stock worth $34,000 after buying an additional 300 shares during the period. 62.27% of the stock is currently owned by hedge funds and other institutional investors.
CVX has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $113.00 target price (down from $117.00) on shares of Chevron in a research note on Tuesday, April 13th. Jefferies Financial Group cut shares of Chevron from a “buy” rating to a “hold” rating and set a $98.00 target price for the company. in a research report on Thursday, January 21st. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a report on Wednesday, March 17th. Credit Suisse Group increased their price objective on shares of Chevron from $115.00 to $126.00 and gave the stock an “outperform” rating in a report on Monday, March 15th. Finally, Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $102.00 price target on the stock in a research report on Friday, January 29th. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.68.
Shares of CVX stock opened at $105.53 on Tuesday. The business’s 50 day simple moving average is $104.24 and its 200 day simple moving average is $92.40. Chevron Co. has a one year low of $65.16 and a one year high of $112.70. The stock has a market capitalization of $203.47 billion, a PE ratio of -17.19, a PEG ratio of 5.74 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.26 and a quick ratio of 0.97.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Thursday, April 29th. The oil and gas company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $32.03 billion for the quarter, compared to the consensus estimate of $31.82 billion. Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. Chevron’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 earnings per share. As a group, research analysts expect that Chevron Co. will post 0.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.08%. This is a positive change from Chevron’s previous quarterly dividend of $1.29. The ex-dividend date is Tuesday, May 18th. Chevron’s dividend payout ratio is presently 82.30%.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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