Bright Financial Advisors Inc. Makes New Investment in Chevron Corporation (NYSE:CVX)

Key Points

• Bright Financial Advisors Inc. has acquired a new position in Chevron Corporation, purchasing 1,740 shares valued at approximately $291,000 during the first quarter.
• Chevron recently reported quarterly earnings of $1.77 EPS, surpassing analyst estimates, but revenue of $44.82 billion was down 12.4% compared to the same quarter last year.
• The company announced a quarterly dividend of $1.71 per share, which represents a 4.4% dividend yield and will be paid to stockholders of record by September 10th.

Bright Financial Advisors Inc. acquired a new position in Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,740 shares of the oil and gas company's stock, valued at approximately $291,000.

A number of other large investors have also modified their holdings of the company. CoreCap Advisors LLC increased its holdings in shares of Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after acquiring an additional 71 shares during the period. Clayton Financial Group LLC grew its position in Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after buying an additional 75 shares in the last quarter. Gill Capital Partners LLC grew its position in Chevron by 4.9% in the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock valued at $271,000 after buying an additional 75 shares in the last quarter. Cordatus Wealth Management LLC grew its position in Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock valued at $3,299,000 after buying an additional 76 shares in the last quarter. Finally, Requisite Capital Management LLC boosted its position in shares of Chevron by 1.2% during the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVX shares. Wells Fargo & Company restated an "overweight" rating and set a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Scotiabank reaffirmed a "sector perform" rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday, August 4th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Finally, Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $164.11.

Chevron Trading Up 0.6%

NYSE:CVX opened at $154.38 on Wednesday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market cap of $266.77 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 2.30 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company's 50 day moving average is $149.07 and its 200-day moving average is $148.55.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS 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 company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the firm posted $2.55 earnings per share. The company's quarterly revenue was down 12.4% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

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

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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