Greystone Financial Group LLC Acquires 4,192 Shares of Chevron Co. (NYSE:CVX)

Greystone Financial Group LLC increased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,477 shares of the oil and gas company's stock after purchasing an additional 4,192 shares during the period. Chevron accounts for 1.8% of Greystone Financial Group LLC's holdings, making the stock its 21st biggest holding. Greystone Financial Group LLC's holdings in Chevron were worth $10,117,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Toth Financial Advisory Corp lifted its holdings in Chevron by 3.9% in the 1st quarter. Toth Financial Advisory Corp now owns 3,466 shares of the oil and gas company's stock worth $580,000 after purchasing an additional 131 shares in the last quarter. Courier Capital LLC lifted its holdings in Chevron by 0.5% in the 1st quarter. Courier Capital LLC now owns 62,072 shares of the oil and gas company's stock worth $10,384,000 after purchasing an additional 302 shares in the last quarter. Cherrydale Wealth Management LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $244,000. Priebe Wealth Holdings LLC raised its holdings in shares of Chevron by 11.7% during the 1st quarter. Priebe Wealth Holdings LLC now owns 1,775 shares of the oil and gas company's stock worth $297,000 after acquiring an additional 186 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in shares of Chevron by 6.8% during the 1st quarter. Capital Investment Advisors LLC now owns 319,968 shares of the oil and gas company's stock worth $53,527,000 after acquiring an additional 20,275 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. Wells Fargo & Company decreased their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. UBS Group decreased their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, Piper Sandler decreased their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Trading Up 0.1%

Shares of NYSE CVX traded up $0.12 during trading hours on Thursday, hitting $144.90. 6,989,778 shares of the company traded hands, compared to its average volume of 8,150,089. The stock has a market capitalization of $253.05 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company's 50 day moving average price is $138.24 and its 200 day moving average price is $149.42. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 EPS. On average, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal 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 $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.72%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) 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.