DORVAL Corp Invests $215,000 in Chevron Corporation (NYSE:CVX)

DORVAL Corp purchased a new position in shares of Chevron Corporation (NYSE:CVX) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,357 shares of the oil and gas company’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Norges Bank purchased a new stake in shares of Chevron during the fourth quarter worth about $3,017,750,000. Raymond James Financial Inc. purchased a new stake in shares of Chevron during the fourth quarter worth about $1,036,302,000. GAMMA Investing LLC grew its holdings in shares of Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after buying an additional 5,382,847 shares in the last quarter. Amundi grew its holdings in shares of Chevron by 27.7% during the fourth 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 in the last quarter. Finally, Capital World Investors grew its holdings in shares of Chevron by 11.4% during the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock worth $2,039,288,000 after buying an additional 1,440,808 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 0.0%

Shares of CVX stock opened at $143.49 on Thursday. The stock has a market cap of $250.59 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 2.52 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. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s 50 day moving average price is $139.95 and its two-hundred day moving average price is $148.45.

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

Chevron Dividend Announcement

The company also recently announced 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. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.77%. Chevron’s payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Piper Sandler lowered their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $160.00 to $143.00 in a report on Friday, April 11th. DZ Bank downgraded shares of 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. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, BNP Paribas downgraded shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron 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.