Davies Financial Advisors Inc. Invests $296,000 in Chevron Corporation (NYSE:CVX)

Davies Financial Advisors Inc. acquired a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,772 shares of the oil and gas company's stock, valued at approximately $296,000.

Several other large investors have also modified their holdings of CVX. Parkside Financial Bank & Trust boosted its stake in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after purchasing an additional 66 shares in the last quarter. Berkeley Capital Partners LLC raised its stake in shares of Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Chevron by 6.1% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock valued at $171,000 after buying an additional 68 shares during the period. Acorn Wealth Advisors LLC boosted its stake in Chevron by 3.4% during the fourth quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company's stock valued at $303,000 after buying an additional 69 shares in the last quarter. Finally, Wealthstream Advisors Inc. boosted its stake in Chevron by 4.4% during the fourth quarter. Wealthstream Advisors Inc. now owns 1,664 shares of the oil and gas company's stock valued at $241,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Ratings Changes

CVX has been the topic of several research reports. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Wells Fargo & Company reduced their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Trading Up 0.8%

NYSE CVX traded up $1.17 on Friday, hitting $149.36. 23,672,194 shares of the stock were exchanged, compared to its average volume of 8,231,243. The company's 50-day moving average price is $139.37 and its two-hundred day moving average price is $148.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market capitalization of $260.84 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations 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 quarter last year, the firm posted $2.93 earnings per share. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. Chevron's payout ratio is presently 78.17%.

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.