OneAscent Family Office LLC Buys 2,567 Shares of Chevron Corporation (NYSE:CVX)

OneAscent Family Office LLC boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 110.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,898 shares of the oil and gas company's stock after buying an additional 2,567 shares during the period. OneAscent Family Office LLC's holdings in Chevron were worth $820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Berkeley Capital Partners LLC increased its stake in shares of Chevron by 3.3% during the first quarter. Berkeley Capital Partners LLC now owns 18,343 shares of the oil and gas company's stock worth $3,069,000 after purchasing an additional 586 shares in the last quarter. Copperwynd Financial LLC lifted its holdings in Chevron by 12.0% during the 1st quarter. Copperwynd Financial LLC now owns 5,656 shares of the oil and gas company's stock worth $946,000 after buying an additional 607 shares in the last quarter. Calton & Associates Inc. acquired a new stake in shares of Chevron in the 1st quarter valued at $1,093,000. Conservest Capital Advisors Inc. grew its position in Chevron by 2.3% during the 1st quarter. Conservest Capital Advisors Inc. now owns 7,306 shares of the oil and gas company's stock worth $1,222,000 after purchasing an additional 162 shares during the last quarter. Finally, Fountainhead AM LLC boosted its holdings in shares of Chevron by 18.3% in the first quarter. Fountainhead AM LLC now owns 4,081 shares of the oil and gas company's stock valued at $683,000 after acquiring an additional 631 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Scotiabank restated 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 cut Chevron from a "buy" rating to a "hold" rating and cut their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Wells Fargo & Company boosted their price objective on Chevron from $165.00 to $178.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Piper Sandler restated an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. Three equities 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. Based on data from MarketBeat.com, Chevron currently has a consensus rating of "Hold" and a consensus target price of $162.13.

Chevron Trading Up 1.4%

NYSE:CVX traded up $2.07 during mid-day trading on Wednesday, hitting $152.11. 5,227,548 shares of the company's stock were exchanged, compared to its average volume of 8,657,370. The company has a 50 day simple moving average of $144.04 and a 200-day simple moving average of $148.68. The firm has a market capitalization of $265.64 billion, a P/E ratio of 17.39, a PEG ratio of 2.47 and a beta of 0.83. 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued 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 dividend yield of 4.50%. Chevron's payout ratio is presently 78.17%.

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.