OneAscent Financial Services LLC Purchases 11,635 Shares of Chevron Corporation (NYSE:CVX)

OneAscent Financial Services LLC raised its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 209.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,186 shares of the oil and gas company's stock after buying an additional 11,635 shares during the quarter. OneAscent Financial Services LLC's holdings in Chevron were worth $2,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Eagle Capital Management LLC lifted its position in shares of Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after purchasing an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after purchasing an additional 2,641 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Chevron by 59.5% in the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock valued at $847,000 after acquiring an additional 2,182 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Chevron in the fourth quarter valued at about $491,000. Finally, von Borstel & Associates Inc. raised its holdings in shares of Chevron by 5.3% in the fourth quarter. von Borstel & Associates Inc. now owns 6,607 shares of the oil and gas company's stock valued at $957,000 after acquiring an additional 331 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of Chevron stock opened at $149.79 on Friday. The business has a 50-day moving average of $144.04 and a 200 day moving average of $148.67. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market capitalization of $261.59 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.45 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 (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the company earned $2.93 EPS. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Barclays reiterated an "equal weight" rating on shares of Chevron in a research note on Tuesday. Finally, Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target (up previously from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus price target of $161.31.

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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