FAS Wealth Partners Inc. Purchases 1,940 Shares of Chevron Corporation (NYSE:CVX)

FAS Wealth Partners Inc. grew its position in Chevron Corporation (NYSE:CVX - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,321 shares of the oil and gas company's stock after acquiring an additional 1,940 shares during the quarter. FAS Wealth Partners Inc.'s holdings in Chevron were worth $6,745,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sage Capital Advisors llc grew its stake in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after purchasing an additional 919 shares during the period. CCG Wealth Management LLC grew its position in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after purchasing an additional 675 shares during the last quarter. Pines Wealth Management LLC grew its position in shares of Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after purchasing an additional 253 shares during the last quarter. Finally, Viking Fund Management LLC boosted its stake in shares of Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock valued at $19,573,000 after buying an additional 10,000 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Stock Down 1.1%

Shares of NYSE:CVX traded down $1.59 during trading on Friday, reaching $149.79. 45,762,307 shares of the stock traded hands, compared to its average volume of 8,549,393. The stock has a 50-day moving average of $144.04 and a two-hundred day moving average of $148.67. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market cap of $261.59 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 2.45 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 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 analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $2.93 earnings per share. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 annualized dividend and a dividend yield of 4.57%. Chevron's payout ratio is 78.17%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research note on Friday. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price target (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. TD Cowen reduced their target price on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $161.31.

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.