Cohen Investment Advisors LLC Purchases 2,402 Shares of Chevron Corporation (NYSE:CVX)

Cohen Investment Advisors LLC increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 12.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,952 shares of the oil and gas company's stock after buying an additional 2,402 shares during the period. Chevron comprises about 2.1% of Cohen Investment Advisors LLC's portfolio, making the stock its 15th biggest position. Cohen Investment Advisors LLC's holdings in Chevron were worth $3,672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MBA Advisors LLC raised its position in Chevron by 4.7% in the first quarter. MBA Advisors LLC now owns 4,991 shares of the oil and gas company's stock worth $835,000 after acquiring an additional 225 shares in the last quarter. Aurora Private Wealth Inc. acquired a new position in Chevron during the first quarter worth about $5,540,000. Sterling Financial Planning Inc. raised its position in Chevron by 8.6% during the first quarter. Sterling Financial Planning Inc. now owns 2,027 shares of the oil and gas company's stock worth $339,000 after acquiring an additional 161 shares during the last quarter. Davidson Trust Co. raised its position in Chevron by 0.5% during the first quarter. Davidson Trust Co. now owns 26,160 shares of the oil and gas company's stock worth $4,376,000 after acquiring an additional 131 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its position in Chevron by 4.5% during the first quarter. Checchi Capital Advisers LLC now owns 22,227 shares of the oil and gas company's stock worth $3,718,000 after acquiring an additional 953 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Piper Sandler increased their price objective on Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday. HSBC lowered Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 price objective (up previously from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $160.41.

Chevron Stock Performance

Shares of Chevron stock traded up $0.25 during trading on Friday, reaching $148.23. The company's stock had a trading volume of 5,173,309 shares, compared to its average volume of 8,273,025. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $258.86 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. The business's fifty day moving average price is $140.97 and its 200-day moving average price is $148.07. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

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 (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The company 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 business's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the business posted $2.93 EPS. As a group, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.61%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

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.