Harrell Investment Partners LLC Acquires 4,572 Shares of Chevron Corporation (NYSE:CVX)

Harrell Investment Partners LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 49.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,840 shares of the oil and gas company's stock after acquiring an additional 4,572 shares during the period. Harrell Investment Partners LLC's holdings in Chevron were worth $2,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in shares of Chevron during the fourth quarter worth about $25,000. Life Planning Partners Inc bought a new stake in shares of Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the fourth quarter worth about $29,000. 10Elms LLP bought a new stake in shares of Chevron during the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC increased its position in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CVX shares. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, UBS Group reduced their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Stock Down 0.4%

Chevron stock opened at $148.18 on Thursday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a 50 day moving average price of $138.82 and a 200-day moving average price of $148.90. The company has a market capitalization of $258.78 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.61 and a beta of 0.83. 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 (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 analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the firm earned $2.93 EPS. The company's revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts predict 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 paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is currently 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.

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