Garner Asset Management Corp Buys 2,516 Shares of Chevron Corporation (NYSE:CVX)

Garner Asset Management Corp grew its stake in Chevron Corporation (NYSE:CVX - Free Report) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,466 shares of the oil and gas company's stock after buying an additional 2,516 shares during the period. Chevron makes up about 2.1% of Garner Asset Management Corp's holdings, making the stock its 8th biggest holding. Garner Asset Management Corp's holdings in Chevron were worth $4,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Financial Sense Advisors Inc. boosted its stake in shares of Chevron by 38.1% in the 1st quarter. Financial Sense Advisors Inc. now owns 18,874 shares of the oil and gas company's stock valued at $3,157,000 after purchasing an additional 5,208 shares in the last quarter. Oakwell Private Wealth Management LLC increased its stake in shares of Chevron by 7.4% in the first quarter. Oakwell Private Wealth Management LLC now owns 3,074 shares of the oil and gas company's stock worth $514,000 after buying an additional 212 shares during the period. PFG Advisors increased its stake in shares of Chevron by 10.0% in the first quarter. PFG Advisors now owns 41,302 shares of the oil and gas company's stock worth $6,909,000 after buying an additional 3,764 shares during the period. Ignite Planners LLC increased its stake in shares of Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after buying an additional 1,519 shares during the period. Finally, Windle Wealth LLC increased its stake in shares of Chevron by 3.2% in the first quarter. Windle Wealth LLC now owns 46,190 shares of the oil and gas company's stock worth $7,727,000 after buying an additional 1,438 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Chevron from $165.00 to $178.00 and gave the company an "overweight" rating in a report on Wednesday. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $162.13.

Chevron Price Performance

Shares of Chevron stock traded down $1.15 during trading on Friday, reaching $154.68. The company's stock had a trading volume of 2,912,756 shares, compared to its average volume of 9,477,226. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a market capitalization of $270.14 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 2.54 and a beta of 0.83. The business has a 50 day moving average price of $144.87 and a 200-day moving average price of $148.79.

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, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 earnings per share. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.42%. 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.