Advisor Resource Council Makes New $2.84 Million Investment in Chevron Corporation (NYSE:CVX)

Advisor Resource Council bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,319 shares of the oil and gas company's stock, valued at approximately $2,844,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sage Capital Advisors llc raised its stake in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after purchasing an additional 919 shares during the period. Pines Wealth Management LLC increased its holdings in Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock worth $1,306,000 after buying an additional 253 shares during the last quarter. Viking Fund Management LLC raised its position in Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock worth $19,573,000 after acquiring an additional 10,000 shares during the period. Allianz SE purchased a new position in Chevron in the fourth quarter valued at about $9,369,000. Finally, Nicholas Company Inc. boosted its stake in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after acquiring an additional 3,280 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.8%

Shares of CVX opened at $149.36 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $260.84 billion, a PE ratio of 17.07, a P/E/G ratio of 2.60 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's 50-day moving average price is $139.37 and its 200-day moving average price is $148.72.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the previous year, the company earned $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. Chevron's payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. HSBC cut Chevron from a "buy" rating to a "hold" rating and dropped their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Three research 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. According to data from MarketBeat.com, Chevron presently 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.

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