Davies Financial Advisors Inc. Buys Shares of 1,772 Chevron Corporation (NYSE:CVX)

Davies Financial Advisors Inc. bought a new stake in shares of Chevron Corporation (NYSE:CVX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,772 shares of the oil and gas company’s stock, valued at approximately $296,000.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after buying an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after purchasing an additional 746,806 shares in the last quarter. Norges Bank purchased a new stake in shares of Chevron in the 4th quarter worth $3,017,750,000. Northern Trust Corp increased its stake in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after purchasing an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after purchasing an additional 410,460 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.8%

Shares of Chevron stock opened at $149.36 on Friday. The firm has a market cap of $260.84 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.60 and a beta of 0.83. The business has a 50-day moving average price of $139.37 and a 200-day moving average price of $148.72. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s quarterly 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. Equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 78.17%.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. BNP Paribas lowered Chevron to a “cautious” rating in a research note on Tuesday, April 15th. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Piper Sandler reduced their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Finally, HSBC lowered Chevron from a “buy” rating to a “hold” rating and cut their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.