BFI Infinity Ltd. Acquires Shares of 1,271 Chevron Co. (NYSE:CVX)

BFI Infinity Ltd. acquired a new position in shares of Chevron Co. (NYSE:CVX) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 1,271 shares of the oil and gas company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. IMG Wealth Management Inc. purchased a new position in Chevron during the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the fourth quarter valued at about $29,000. 10Elms LLP purchased a new position in Chevron during the fourth quarter worth about $29,000. Fairway Wealth LLC grew its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Finally, IFS Advisors LLC increased its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 116 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Chevron stock opened at $140.76 on Tuesday. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $245.82 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm’s 50 day simple moving average is $138.46 and its 200 day simple moving average is $149.50.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 earnings per share. As a group, analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.86%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVX. Wells Fargo & Company reduced their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $160.24.

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.