Cobblestone Capital Advisors LLC NY Has $5.40 Million Position in Chevron Corporation (NYSE:CVX)

Key Points

• Cobblestone Capital Advisors LLC NY increased its holdings in Chevron Corporation by 14.8% during Q1, acquiring an additional 4,149 shares, raising its total to 32,274 shares valued at approximately $5.4 million.
• Chevron announced a quarterly dividend of $1.71 per share, with an annualized yield of 4.4%, to be paid on September 10th.
• Recent analyst reports indicate mixed sentiments, with some downgrading Chevron's stock rating, yet a majority maintain buy ratings, reflecting a consensus rating of "Hold" with an average price target of $164.11.

Cobblestone Capital Advisors LLC NY increased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,274 shares of the oil and gas company's stock after purchasing an additional 4,149 shares during the quarter. Cobblestone Capital Advisors LLC NY's holdings in Chevron were worth $5,399,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd lifted its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 122 shares during the last quarter. 10Elms LLP purchased a new stake in Chevron during the 4th quarter valued at $29,000. Navigoe LLC bought a new position in shares of Chevron during the 4th quarter valued at $33,000. IFS Advisors LLC lifted its holdings in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares during the period. Finally, Cloud Capital Management LLC bought a new position in Chevron in the 1st quarter worth $39,000. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX stock traded up $0.93 during mid-day trading on Tuesday, reaching $154.38. The company's stock had a trading volume of 6,641,283 shares, compared to its average volume of 12,062,080. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $266.77 billion, a P/E ratio of 19.87, a PEG ratio of 2.30 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm's 50-day moving average is $149.07 and its two-hundred day moving average is $148.55.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron's dividend payout ratio (DPR) is 88.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price on the stock. Evercore ISI reiterated an "outperform" rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Finally, Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Chevron has a consensus rating of "Hold" and a consensus price target of $164.11.

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.