OneAscent Family Office LLC Increases Stock Position in Chevron Corporation (NYSE:CVX)

OneAscent Family Office LLC grew its position in Chevron Corporation (NYSE:CVX - Free Report) by 110.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,898 shares of the oil and gas company's stock after acquiring an additional 2,567 shares during the quarter. OneAscent Family Office LLC's holdings in Chevron were worth $820,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Life Planning Partners Inc acquired a new stake in Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the fourth quarter worth $29,000. 10Elms LLP acquired a new position in shares of Chevron in the 4th quarter valued at $29,000. Navigoe LLC acquired a new position in shares of Chevron in the 4th quarter valued at $33,000. Finally, IFS Advisors LLC lifted its stake in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Trading Up 0.5%

Shares of CVX stock traded up $0.80 on Tuesday, reaching $150.48. 10,555,593 shares of the stock were exchanged, compared to its average volume of 8,596,476. The stock has a 50 day moving average price of $144.04 and a 200 day moving average price of $148.68. The stock has a market cap of $262.80 billion, a PE ratio of 17.19, a P/E/G ratio of 2.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.93 earnings per share. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVX. Piper Sandler restated an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Scotiabank reissued a "sector perform" rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $161.31.

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.