Haverford Trust Co Has $161.13 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• Haverford Trust Co increased its stake in Chevron Corporation by 1.5% during the first quarter, holding 963,198 shares valued at approximately $161.13 million.
• Chevron reported earnings of $1.77 per share for the last quarter, exceeding analysts' expectations, but saw a 12.4% decline in year-over-year revenue.
• The company announced a quarterly dividend of $1.71, indicating a yield of 4.3%, to be paid on September 10th for stockholders of record on August 19th.

Haverford Trust Co grew its stake in Chevron Corporation (NYSE:CVX - Free Report) by 1.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 963,198 shares of the oil and gas company's stock after buying an additional 13,852 shares during the quarter. Chevron accounts for approximately 1.6% of Haverford Trust Co's portfolio, making the stock its 22nd biggest position. Haverford Trust Co owned approximately 0.05% of Chevron worth $161,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd lifted its stake in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of Chevron during the first quarter valued at $31,000. 10Elms LLP purchased a new position in Chevron during the fourth quarter worth about $29,000. IFS Advisors LLC lifted its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares during the period. Finally, Navigoe LLC purchased a new position in Chevron during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of NYSE CVX traded up $2.3470 during midday trading on Friday, reaching $157.8970. 9,080,229 shares of the company traded hands, compared to its average volume of 8,226,470. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a 50-day moving average price of $151.21 and a 200 day moving average price of $148.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market cap of $272.84 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.35 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. During the same period in the previous year, the business earned $2.55 earnings per share. The company's revenue was down 12.4% on a year-over-year basis. Sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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 paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's payout ratio is currently 88.03%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Raymond James Financial restated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Scotiabank restated a "sector perform" rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a report on Friday, July 11th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and cut their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $163.95.

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.