CW Advisors LLC Increases Position in Chevron Corporation $CVX

Key Points

• CW Advisors LLC increased its stake in Chevron Corporation by 20.7%, owning a total of 160,990 shares valued at approximately $26.9 million as of the latest filing.
• Chevron's recent earnings surpassed expectations, reporting an EPS of $1.77, exceeding the consensus estimate of $1.58, despite a 12.4% decline in quarterly revenue compared to last year.
• The company declared a quarterly dividend of $1.71, with an annualized dividend yield of 4.5%, to be paid on September 10th for shareholders of record on August 19th.

CW Advisors LLC grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 20.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,990 shares of the oil and gas company's stock after acquiring an additional 27,646 shares during the quarter. CW Advisors LLC's holdings in Chevron were worth $26,905,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. CoreCap Advisors LLC lifted its stake in shares of Chevron by 0.3% in the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after buying an additional 71 shares in the last quarter. GDS Wealth Management raised its holdings in Chevron by 4.4% in the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 72 shares during the last quarter. Clayton Financial Group LLC lifted its position in Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after acquiring an additional 75 shares in the last quarter. Gill Capital Partners LLC boosted its stake in Chevron by 4.9% during the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock valued at $271,000 after purchasing an additional 75 shares during the last quarter. Finally, Cordatus Wealth Management LLC increased its holdings in shares of Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock worth $3,299,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday. Evercore ISI restated an "outperform" rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Morgan Stanley initiated coverage on shares of Chevron in a report on Monday, August 4th. They set an "overweight" rating and a $174.00 price target on the stock. TD Cowen boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Finally, Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $163.95.

Chevron Stock Performance

CVX traded up $2.3470 during trading on Friday, hitting $157.8970. The company's stock had a trading volume of 9,080,229 shares, compared to its average volume of 8,166,027. The business's 50 day simple moving average is $151.21 and its 200-day simple moving average is $148.66. The firm has a market cap of $272.84 billion, a PE ratio of 20.32, a P/E/G ratio of 2.31 and a beta of 0.87. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron's dividend payout ratio (DPR) is 88.03%.

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.