Burns J W & Co. Inc. NY Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Burns J W & Co. Inc. NY increased its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 3.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,641 shares of the oil and gas company's stock after buying an additional 2,426 shares during the quarter. Chevron accounts for about 1.7% of Burns J W & Co. Inc. NY's portfolio, making the stock its 18th biggest holding. Burns J W & Co. Inc. NY's holdings in Chevron were worth $13,323,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TFB Advisors LLC lifted its holdings in shares of Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after purchasing an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. lifted its holdings in shares of Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after purchasing an additional 66 shares during the last quarter. Western Pacific Wealth Management LP lifted its holdings in shares of Chevron by 14.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock valued at $75,000 after purchasing an additional 67 shares during the last quarter. Finally, Berkeley Capital Partners LLC lifted its holdings in shares of Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Piper Sandler reduced their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Three equities 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Performance

NYSE:CVX traded down $1.48 during trading hours on Friday, reaching $136.43. The company had a trading volume of 12,856,437 shares, compared to its average volume of 8,106,167. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market cap of $238.26 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.46 and a beta of 0.83. The firm's 50 day moving average price is $141.88 and its 200-day moving average price is $150.52.

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 for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company's revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.93 EPS. On average, analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

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.