CRA Financial Services LLC Increases Position in Chevron Co. (NYSE:CVX)

CRA Financial Services LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 4.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 13,970 shares of the oil and gas company’s stock after purchasing an additional 550 shares during the quarter. CRA Financial Services LLC’s holdings in Chevron were worth $2,337,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP purchased a new position in shares of Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Finally, IFS Advisors LLC boosted its holdings in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.5%

CVX opened at $145.74 on Friday. The stock has a market capitalization of $254.52 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The firm’s fifty day simple moving average is $138.53 and its 200 day simple moving average is $149.20. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the business earned $2.93 EPS. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. Finally, TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and an average target price 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.