Carrera Capital Advisors Buys 2,535 Shares of Chevron Corporation (NYSE:CVX)

Key Points

• Carrera Capital Advisors increased its holdings in Chevron Corporation by 100.1% during the first quarter, owning a total of 5,068 shares valued at approximately $848,000.
• Chevron's shares currently hold an average rating of "Hold" from analysts, with a target price averaging $162.13.
• The company declared a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.42%.

Carrera Capital Advisors raised its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 100.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,068 shares of the oil and gas company's stock after purchasing an additional 2,535 shares during the quarter. Carrera Capital Advisors' holdings in Chevron were worth $848,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter valued at $25,000. 10Elms LLP bought a new position in Chevron in the 4th quarter valued at $29,000. Navigoe LLC bought a new position in Chevron in the 4th quarter valued at $33,000. IFS Advisors LLC raised its position in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new position in Chevron in the 1st quarter valued at $39,000. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Scotiabank restated a "sector perform" rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Redburn Atlantic restated a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of "Hold" and an average target price of $162.13.

Chevron Stock Down 0.6%

Shares of Chevron stock opened at $154.84 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The business has a fifty day simple moving average of $145.12 and a 200 day simple moving average of $148.82. The stock has a market cap of $270.40 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.44 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. The company's revenue was down 2.3% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 dividend yield of 4.42%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

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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