Chevron Corporation (NYSE:CVX) Shares Purchased by Smith Salley Wealth Management

Smith Salley Wealth Management increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 124,520 shares of the oil and gas company's stock after purchasing an additional 1,864 shares during the quarter. Chevron makes up approximately 1.4% of Smith Salley Wealth Management's investment portfolio, making the stock its 23rd largest position. Smith Salley Wealth Management's holdings in Chevron were worth $20,831,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in 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 worth $5,011,000 after purchasing an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Chevron by 7.9% in the fourth 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 purchasing an additional 2,641 shares during the last quarter. Modera Wealth Management LLC lifted its position in Chevron by 0.3% during the fourth quarter. Modera Wealth Management LLC now owns 30,735 shares of the oil and gas company's stock worth $4,452,000 after buying an additional 106 shares in the last quarter. Bellecapital International Ltd. boosted its stake in Chevron by 40.5% during the fourth quarter. Bellecapital International Ltd. now owns 24,333 shares of the oil and gas company's stock worth $3,524,000 after buying an additional 7,019 shares during the last quarter. Finally, DJE Kapital AG acquired a new position in Chevron during the fourth quarter worth $78,111,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 1.6%

Shares of CVX stock traded up $2.27 on Tuesday, hitting $145.46. The stock had a trading volume of 8,503,857 shares, compared to its average volume of 8,250,668. The company's 50 day moving average price is $140.40 and its 200-day moving average price is $148.10. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a market capitalization of $254.03 billion, a P/E ratio of 16.62, a P/E/G ratio of 2.52 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released 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. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. Chevron's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.93 EPS. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is currently 78.17%.

Analysts Set New Price Targets

Several research analysts have recently commented on CVX shares. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 target price (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Mizuho decreased their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $160.29.

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.