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Chevron Corporation (NYSE:CVX) Stock Position Raised by Archford Capital Strategies LLC

Chevron logo with Energy background

Archford Capital Strategies LLC lifted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 42.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,844 shares of the oil and gas company's stock after buying an additional 4,727 shares during the period. Archford Capital Strategies LLC's holdings in Chevron were worth $2,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CVX. Sage Capital Advisors llc boosted its holdings in Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC raised its position in shares of Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after purchasing an additional 145 shares during the period. Pines Wealth Management LLC raised its position in shares of Chevron by 3.3% during the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock worth $1,306,000 after purchasing an additional 253 shares during the period. Viking Fund Management LLC raised its position in shares of Chevron by 9.3% during the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock worth $19,573,000 after purchasing an additional 10,000 shares during the period. Finally, Allianz SE acquired a new stake in shares of Chevron during the 4th quarter worth approximately $9,369,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CVX shares. TD Cowen dropped their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. 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. Mizuho dropped their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. 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. Finally, Barclays cut 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 research report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $160.29.

Check Out Our Latest Report on Chevron

Chevron Price Performance

NYSE CVX traded down $0.57 on Friday, reaching $143.87. 9,207,479 shares of the stock traded hands, compared to its average volume of 8,266,858. The firm's fifty day simple moving average is $140.20 and its 200 day simple moving average is $148.27. 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 company has a market cap of $251.26 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 2.54 and a beta of 0.83. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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 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 firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $2.93 EPS. As a group, research analysts predict 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. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is currently 78.17%.

About Chevron

(Free Report)

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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