Stack Financial Management Inc Has $46.56 Million Stock Position in Chevron Corporation (NYSE:CVX)

Stack Financial Management Inc trimmed its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 278,337 shares of the oil and gas company's stock after selling 4,266 shares during the quarter. Chevron comprises 3.9% of Stack Financial Management Inc's portfolio, making the stock its 5th largest position. Stack Financial Management Inc's holdings in Chevron were worth $46,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CVX. Berkeley Capital Partners LLC increased 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 period. CoreCap Advisors LLC lifted its holdings in shares of Chevron by 0.3% during the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after purchasing an additional 71 shares during the last quarter. Clayton Financial Group LLC raised its holdings in Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after buying an additional 75 shares during the period. Requisite Capital Management LLC lifted its position in shares of Chevron by 1.2% in the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after acquiring an additional 77 shares in the last quarter. Finally, Silverlake Wealth Management LLC lifted its holdings in shares of Chevron by 0.7% in the first quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company's stock valued at $1,828,000 after purchasing an additional 78 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

CVX traded down $0.73 on Wednesday, hitting $149.96. 7,917,824 shares of the stock traded hands, compared to its average volume of 8,379,835. The firm has a market capitalization of $261.88 billion, a PE ratio of 17.14, a P/E/G ratio of 2.56 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 52 week low of $132.04 and a 52 week high of $168.96. The business has a fifty day moving average price of $143.53 and a two-hundred day moving average price of $148.55.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 yield of 4.56%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a research report on Tuesday. Scotiabank reissued a "sector perform" rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Barclays restated an "equal weight" rating on shares of Chevron in a report on Tuesday. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $161.65.

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.