Chevron Corporation (NYSE:CVX) is Physicians Financial Services Inc.'s 9th Largest Position

Key Points

• Physicians Financial Services Inc. increased its holdings in Chemron Corporation by 4.8%, making Chevron its 9th largest position, with an investment worth approximately $6.64 million.
• Chevron reported $2.18 earnings per share for the most recent quarter, surpassing analysts' estimates, but its revenue of $47.61 billion fell short of expectations.
• The company announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.42% and a payout ratio of 78.17%.

Physicians Financial Services Inc. boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,715 shares of the oil and gas company's stock after buying an additional 1,822 shares during the period. Chevron makes up 2.2% of Physicians Financial Services Inc.'s investment portfolio, making the stock its 9th biggest holding. Physicians Financial Services Inc.'s holdings in Chevron were worth $6,644,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after purchasing an additional 392,916 shares during the period. Northern Trust Corp boosted its holdings in Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares during the period. Franklin Resources Inc. boosted its holdings in Chevron by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after purchasing an additional 79,917 shares during the period. Ameriprise Financial Inc. boosted its holdings in Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after purchasing an additional 211,023 shares during the period. Finally, Invesco Ltd. raised its position in shares of Chevron by 6.9% during the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock valued at $2,176,579,000 after buying an additional 964,426 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 0.6%

Shares of CVX opened at $154.84 on Monday. The firm's 50-day moving average price is $145.12 and its 200-day moving average price is $148.82. The firm has a market capitalization of $270.40 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.44 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.93 EPS. Sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is 78.17%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVX. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. HSBC cut 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 report on Tuesday, May 13th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Wells Fargo & Company lifted their target price on shares of Chevron from $165.00 to $178.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $162.13.

Chevron Company 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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