Knights of Columbus Asset Advisors LLC Raises Stock Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• Knights of Columbus Asset Advisors LLC increased its holdings in Chevron Corporation by an impressive 21,406.1%, owning 35,270 shares valued at $5.9 million by the end of the first quarter.
• Chevron recently reported a quarterly earnings per share of $2.18, exceeding analysts' estimates, despite a 2.3% year-over-year decline in revenue.
• Chevron has declared a quarterly dividend of $1.71 per share, yielding approximately 4.39% annually, with a payout ratio of 78.17%.

Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 21,406.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,270 shares of the oil and gas company's stock after acquiring an additional 35,106 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Chevron were worth $5,900,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bell & Brown Wealth Advisors LLC increased its holdings in Chevron by 2.5% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 28,857 shares of the oil and gas company's stock worth $4,828,000 after purchasing an additional 703 shares in the last quarter. Benedict Financial Advisors Inc. grew its holdings in Chevron by 3.1% during the first quarter. Benedict Financial Advisors Inc. now owns 28,343 shares of the oil and gas company's stock worth $4,742,000 after buying an additional 850 shares in the last quarter. Drive Wealth Management LLC raised its position in Chevron by 77.2% in the 1st quarter. Drive Wealth Management LLC now owns 11,129 shares of the oil and gas company's stock valued at $1,862,000 after buying an additional 4,848 shares during the last quarter. Prospect Financial Group LLC raised its position in Chevron by 5.9% in the 1st quarter. Prospect Financial Group LLC now owns 1,746 shares of the oil and gas company's stock valued at $292,000 after buying an additional 98 shares during the last quarter. Finally, Caliber Wealth Management LLC KS purchased a new position in Chevron during the 1st quarter worth $310,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

CVX stock traded down $1.00 during midday trading on Friday, reaching $154.84. 7,872,671 shares of the company's stock traded hands, compared to its average volume of 12,051,790. The firm has a market capitalization of $270.40 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. The company has a 50-day moving average price of $145.12 and a two-hundred day moving average price of $148.82. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping 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 business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the prior year, the firm posted $2.93 EPS. The firm's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. 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 report on Tuesday, May 6th. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, HSBC lowered Chevron from a "buy" rating to a "hold" rating and dropped their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $162.13.

About Chevron

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.