Garrison Bradford & Associates Inc. Invests $167,000 in Chevron Corporation (NYSE:CVX)

Garrison Bradford & Associates Inc. bought a new position in Chevron Corporation (NYSE:CVX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000 shares of the oil and gas company’s stock, valued at approximately $167,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Life Planning Partners Inc acquired a new stake in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP acquired a new stake in Chevron during the fourth quarter valued at approximately $29,000. Navigoe LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $33,000. Finally, IFS Advisors LLC raised its position in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $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 Stock Performance

CVX opened at $150.20 on Wednesday. The firm has a market cap of $262.31 billion, a PE ratio of 17.17, a P/E/G ratio of 2.47 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 business has a fifty day simple moving average of $144.04 and a 200-day simple moving average of $148.68. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

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, beating analysts’ consensus estimates 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 return on equity of 10.73% and a net margin of 7.76%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 earnings per share. As a group, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.55%. Chevron’s dividend payout ratio is 78.17%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 price target (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. HSBC cut Chevron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Mizuho decreased their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $161.31.

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.