Legacy Advisors LLC Boosts Stake in Chevron Corporation (NYSE:CVX)

Legacy Advisors LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 21.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,607 shares of the oil and gas company's stock after buying an additional 4,626 shares during the period. Legacy Advisors LLC's holdings in Chevron were worth $4,451,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. GHP Investment Advisors Inc. raised its holdings in shares of Chevron by 7.7% during the first quarter. GHP Investment Advisors Inc. now owns 37,033 shares of the oil and gas company's stock worth $6,195,000 after purchasing an additional 2,654 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Chevron by 5.2% during the first quarter. Asset Management One Co. Ltd. now owns 820,518 shares of the oil and gas company's stock valued at $137,264,000 after acquiring an additional 40,293 shares in the last quarter. Narwhal Capital Management lifted its holdings in Chevron by 1.8% in the first quarter. Narwhal Capital Management now owns 34,997 shares of the oil and gas company's stock valued at $5,855,000 after acquiring an additional 633 shares during the period. Chapin Davis Inc. boosted its position in Chevron by 15.4% in the 1st quarter. Chapin Davis Inc. now owns 36,629 shares of the oil and gas company's stock worth $6,128,000 after purchasing an additional 4,877 shares in the last quarter. Finally, Walkner Condon Financial Advisors LLC purchased a new stake in Chevron in the 1st quarter worth approximately $251,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 1.8%

Shares of CVX stock opened at $146.92 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company's 50-day moving average price is $139.60 and its 200-day moving average price is $148.52. The stock has a market cap of $256.58 billion, a price-to-earnings ratio of 16.79, 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 the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron's revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.93 EPS. As a group, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.66%. Chevron's dividend payout ratio (DPR) is 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, Redburn Atlantic reissued a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of "Hold" and a consensus price target of $160.24.

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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