Calton & Associates Inc. Makes New $1.09 Million Investment in Chevron Corporation (NYSE:CVX)

Calton & Associates Inc. bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,532 shares of the oil and gas company's stock, valued at approximately $1,093,000.

Several other hedge funds have also modified their holdings of the company. Eagle Capital Management LLC lifted its stake in Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after buying an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after buying an additional 2,641 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Chevron by 59.5% in the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock valued at $847,000 after buying an additional 2,182 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in Chevron in the 4th quarter valued at about $491,000. Finally, von Borstel & Associates Inc. raised its holdings in Chevron by 5.3% in the 4th quarter. von Borstel & Associates Inc. now owns 6,607 shares of the oil and gas company's stock valued at $957,000 after acquiring an additional 331 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CVX. Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and cut their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of "Hold" and a consensus target price of $161.31.

Chevron Trading Up 0.4%

Chevron stock traded up $0.67 during trading on Tuesday, hitting $150.35. The company had a trading volume of 10,555,593 shares, compared to its average volume of 8,596,269. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. 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 company's 50 day simple moving average is $144.04 and its 200-day simple moving average is $148.68. The stock has a market cap of $262.57 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the firm earned $2.93 EPS. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.55%. Chevron's dividend payout ratio (DPR) 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.