Fiduciary Family Office LLC Makes New $603,000 Investment in Chevron Corporation (NYSE:CVX)

Key Points

• Fiduciary Family Office LLC has acquired a new position in Chevron Corporation (NYSE:CVX), purchasing 3,607 shares valued at approximately $603,000.
• Chevron's stock recently experienced an upgrade from some analysts, with Morgan Stanley issuing an "overweight" rating and a price target of $174.00.
• The company announced a quarterly dividend of $1.71, representing a 4.4% yield, with payment scheduled for September 10th to investors of record by August 19th.

Fiduciary Family Office LLC bought a new position in Chevron Corporation (NYSE:CVX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,607 shares of the oil and gas company's stock, valued at approximately $603,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. True North Advisors LLC increased its holdings in Chevron by 2.8% in the first quarter. True North Advisors LLC now owns 12,486 shares of the oil and gas company's stock worth $2,089,000 after buying an additional 340 shares during the last quarter. Johnson Financial Group LLC acquired a new position in shares of Chevron during the 1st quarter worth $303,000. Manhattan West Asset Management LLC raised its holdings in shares of Chevron by 9.2% during the 1st quarter. Manhattan West Asset Management LLC now owns 14,433 shares of the oil and gas company's stock valued at $2,415,000 after purchasing an additional 1,221 shares in the last quarter. Koss Olinger Consulting LLC acquired a new stake in shares of Chevron in the 1st quarter valued at $492,000. Finally, Lcnb Corp boosted its holdings in Chevron by 4.0% in the first quarter. Lcnb Corp now owns 21,817 shares of the oil and gas company's stock worth $3,650,000 after purchasing an additional 833 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

NYSE CVX traded up $1.82 on Friday, reaching $154.98. The company's stock had a trading volume of 6,331,417 shares, compared to its average volume of 12,388,930. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market cap of $270.66 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.32 and a beta of 0.87. The business has a 50-day moving average price of $148.45 and a 200 day moving average price of $148.58.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The company's revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.55 EPS. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company 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 dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HSBC lowered Chevron from a "buy" rating to a "hold" rating and cut their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Piper Sandler reissued an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.