Guyasuta Investment Advisors Inc. Raises Stock Holdings in Chevron Corporation (NYSE:CVX)

Guyasuta Investment Advisors Inc. increased its position in Chevron Corporation (NYSE:CVX - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 253,451 shares of the oil and gas company's stock after purchasing an additional 11,311 shares during the period. Chevron accounts for 2.8% of Guyasuta Investment Advisors Inc.'s portfolio, making the stock its 12th biggest position. Guyasuta Investment Advisors Inc.'s holdings in Chevron were worth $42,400,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Consolidated Investment Group LLC grew its stake in shares of Chevron by 12.5% in the first quarter. Consolidated Investment Group LLC now owns 27,780 shares of the oil and gas company's stock worth $4,644,000 after acquiring an additional 3,080 shares during the last quarter. North Point Portfolio Managers Corp OH purchased a new stake in shares of Chevron in the first quarter worth $392,000. Childress Capital Advisors LLC grew its stake in shares of Chevron by 1.4% in the first quarter. Childress Capital Advisors LLC now owns 8,351 shares of the oil and gas company's stock worth $1,397,000 after acquiring an additional 118 shares during the last quarter. Cross Staff Investments Inc grew its stake in shares of Chevron by 9.4% in the first quarter. Cross Staff Investments Inc now owns 5,378 shares of the oil and gas company's stock worth $900,000 after acquiring an additional 464 shares during the last quarter. Finally, Altrius Capital Management Inc grew its stake in shares of Chevron by 0.4% in the first quarter. Altrius Capital Management Inc now owns 31,706 shares of the oil and gas company's stock worth $5,304,000 after acquiring an additional 113 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.8%

Shares of NYSE:CVX opened at $149.36 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock's fifty day moving average price is $139.37 and its 200-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. The company has a market cap of $260.84 billion, a P/E ratio of 17.07, a PEG ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share 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 company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the company earned $2.93 earnings per share. Chevron's revenue was down 2.3% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 4.58%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is 78.17%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVX. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. HSBC cut Chevron from a "buy" rating to a "hold" rating and cut their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Chevron has an average rating of "Hold" and an average target price of $160.24.

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.

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