Warner Financial Inc. Purchases Shares of 1,327 Chevron Corporation (NYSE:CVX)

Warner Financial Inc. acquired a new stake in Chevron Corporation (NYSE:CVX) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,327 shares of the oil and gas company’s stock, valued at approximately $222,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Chevron in the fourth quarter worth about $3,017,750,000. Raymond James Financial Inc. acquired a new stake in Chevron during the fourth quarter valued at approximately $1,036,302,000. GAMMA Investing LLC grew its stake in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after purchasing an additional 5,382,847 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares in the last quarter. Finally, Amundi lifted its position in shares of Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Piper Sandler dropped their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and cut their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

Shares of Chevron stock opened at $148.86 on Wednesday. The firm has a 50 day simple moving average of $138.78 and a 200 day simple moving average of $148.91. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a market cap of $259.97 billion, a P/E ratio of 17.01, a P/E/G ratio of 2.56 and a beta of 0.83.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the firm earned $2.93 EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.59%. Chevron’s dividend payout ratio is currently 78.17%.

Chevron Company 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.