Chevron Co. (NYSE:CVX) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC raised its stake in Chevron Co. (NYSE:CVX - Free Report) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,153 shares of the oil and gas company's stock after purchasing an additional 3,654 shares during the period. Procyon Advisors LLC's holdings in Chevron were worth $7,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Davis Capital Management lifted its holdings in shares of Chevron by 81.3% in the 1st quarter. Davis Capital Management now owns 2,207 shares of the oil and gas company's stock valued at $369,000 after purchasing an additional 990 shares during the last quarter. Unique Wealth LLC increased its position in Chevron by 131.4% during the first quarter. Unique Wealth LLC now owns 5,112 shares of the oil and gas company's stock worth $855,000 after buying an additional 2,903 shares during the period. Magnus Financial Group LLC lifted its stake in Chevron by 2.2% in the first quarter. Magnus Financial Group LLC now owns 21,752 shares of the oil and gas company's stock valued at $3,639,000 after buying an additional 474 shares during the last quarter. A. D. Beadell Investment Counsel Inc. lifted its stake in Chevron by 2.4% in the first quarter. A. D. Beadell Investment Counsel Inc. now owns 6,919 shares of the oil and gas company's stock valued at $1,157,000 after buying an additional 161 shares during the last quarter. Finally, Stablepoint Partners LLC boosted its holdings in shares of Chevron by 0.5% in the first quarter. Stablepoint Partners LLC now owns 40,046 shares of the oil and gas company's stock valued at $6,699,000 after acquiring an additional 208 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVX. Wells Fargo & Company cut their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Redburn Atlantic reissued a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and decreased their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Price Performance

Shares of CVX traded up $3.31 during mid-day trading on Friday, hitting $140.21. The company's stock had a trading volume of 6,555,988 shares, compared to its average volume of 8,122,067. 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 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $244.86 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83. The firm has a 50-day simple moving average of $139.54 and a 200 day simple moving average of $149.95.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the prior year, the business posted $2.93 earnings per share. Chevron's revenue was down 2.3% compared to the same quarter last year. Analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.88%. 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.