Chevron Corporation (NYSE:CVX) Shares Acquired by Biltmore Family Office LLC

Key Points

• Biltmore Family Office LLC increased its stake in Chevron Corporation by 238.2%, owning a total of 7,011 shares valued at approximately $1.17 million.
• Certain analysts have raised their price targets for Chevron, with TD Cowen increasing theirs from $150 to $155 and Evercore ISI setting a target of $180 while maintaining an "outperform" rating.
• Chevron recently announced a quarterly dividend of $1.71 per share, with a yield of 4.4%, reflecting a payout ratio of 88.03%.

Biltmore Family Office LLC increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 238.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 7,011 shares of the oil and gas company's stock after acquiring an additional 4,938 shares during the period. Biltmore Family Office LLC's holdings in Chevron were worth $1,173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its holdings in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP purchased a new position in Chevron in the fourth quarter valued at about $29,000. Navigoe LLC purchased a new position in Chevron in the fourth quarter valued at about $33,000. IFS Advisors LLC increased its stake in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Chevron in the first quarter worth $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE CVX traded up $1.31 during midday trading on Wednesday, reaching $155.75. 6,581,736 shares of the company traded hands, compared to its average volume of 9,385,985. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a 50-day moving average price of $149.07 and a 200 day moving average price of $148.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market cap of $269.13 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.30 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. During the same period in the previous year, the business earned $2.55 earnings per share. The company's revenue was down 12.4% on a year-over-year basis. Sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's payout ratio is currently 88.03%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays restated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. HSBC lowered shares of 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 note on Tuesday, May 13th. TD Cowen lifted their price target on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, August 4th. Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $164.11.

Chevron Company 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.