Chevron Corporation (NYSE:CVX) is Parr Mcknight Wealth Management Group LLC's 9th Largest Position

Parr Mcknight Wealth Management Group LLC raised its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,950 shares of the oil and gas company's stock after purchasing an additional 6,111 shares during the quarter. Chevron makes up about 1.5% of Parr Mcknight Wealth Management Group LLC's holdings, making the stock its 9th biggest holding. Parr Mcknight Wealth Management Group LLC's holdings in Chevron were worth $10,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. IMG Wealth Management Inc. bought a new position in Chevron during the 4th quarter valued at about $25,000. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the fourth quarter valued at $29,000. 10Elms LLP bought a new stake in Chevron in the fourth quarter worth $29,000. Finally, Navigoe LLC bought a new stake in Chevron in the fourth quarter worth $33,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX traded up $1.21 during trading hours on Friday, reaching $155.38. The company had a trading volume of 8,332,244 shares, compared to its average volume of 8,352,057. The firm has a market cap of $271.35 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The business's 50 day moving average price is $142.62 and its 200-day moving average price is $148.41. 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 data on Friday, May 2nd. The oil and gas company reported $2.18 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 business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the previous year, the business earned $2.93 earnings per share. The business's revenue was down 2.3% compared to the same quarter last year. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is 78.17%.

Analyst Ratings Changes

Several research analysts have commented on CVX shares. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Mizuho decreased their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 price target (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Finally, Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $161.65.

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.