BLB&B Advisors LLC Acquires 1,875 Shares of Chevron Corporation (NYSE:CVX)

BLB&B Advisors LLC boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,526 shares of the oil and gas company's stock after acquiring an additional 1,875 shares during the period. Chevron accounts for about 1.1% of BLB&B Advisors LLC's holdings, making the stock its 24th biggest position. BLB&B Advisors LLC's holdings in Chevron were worth $21,334,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. purchased a new position in Chevron in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc bought a new stake in shares of Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter valued at $29,000. 10Elms LLP bought a new position in shares of Chevron during the 4th quarter worth $29,000. Finally, Fairway Wealth LLC increased its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE CVX traded up $2.27 during midday trading on Tuesday, hitting $145.46. 8,503,857 shares of the company's stock were exchanged, compared to its average volume of 8,250,669. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The business's fifty day moving average price is $140.40 and its two-hundred day moving average price is $148.10. The company has a market cap of $254.03 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 2.52 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 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 firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research 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. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.70%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVX. Piper Sandler dropped their price objective on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 target price (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Finally, HSBC lowered Chevron from a "buy" rating to a "hold" rating and cut their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three investment 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $160.29.

About Chevron

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.