Southern Capital Advisors LLC Purchases 286 Shares of Chevron Corporation (NYSE:CVX)

Southern Capital Advisors LLC increased its position in Chevron Corporation (NYSE:CVX) by 16.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,037 shares of the oil and gas company’s stock after purchasing an additional 286 shares during the period. Southern Capital Advisors LLC’s holdings in Chevron were worth $341,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Mascagni Wealth Management Inc. boosted its stake in Chevron by 4.8% in the 1st quarter. Mascagni Wealth Management Inc. now owns 6,487 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 295 shares in the last quarter. Consolidated Portfolio Review Corp boosted its stake in Chevron by 1.5% in the 1st quarter. Consolidated Portfolio Review Corp now owns 11,826 shares of the oil and gas company’s stock worth $1,978,000 after purchasing an additional 180 shares in the last quarter. Hofer & Associates. Inc boosted its stake in Chevron by 5.5% in the 1st quarter. Hofer & Associates. Inc now owns 1,842 shares of the oil and gas company’s stock worth $308,000 after purchasing an additional 96 shares in the last quarter. FORM Wealth Advisors LLC bought a new position in Chevron in the 1st quarter worth about $427,000. Finally, Lazari Capital Management Inc. boosted its stake in Chevron by 48.9% in the 1st quarter. Lazari Capital Management Inc. now owns 6,710 shares of the oil and gas company’s stock worth $1,123,000 after purchasing an additional 2,203 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on CVX shares. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Redburn Atlantic restated a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. 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.com, the company has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Price Performance

NYSE CVX opened at $146.92 on Tuesday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market capitalization of $256.58 billion, a P/E ratio of 16.79, a PEG ratio of 2.63 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $139.60 and a 200-day moving average price of $148.52.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.93 EPS. Equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is 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.