Parr Mcknight Wealth Management Group LLC Increases Position in Chevron Corporation (NYSE:CVX)

Parr Mcknight Wealth Management Group LLC raised its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 10.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,950 shares of the oil and gas company's stock after buying an additional 6,111 shares during the quarter. Chevron makes up approximately 1.5% of Parr Mcknight Wealth Management Group LLC's holdings, making the stock its 9th largest 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 (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in Chevron in the fourth quarter valued at about $25,000. Life Planning Partners Inc acquired a new stake in Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the fourth quarter valued at $29,000. 10Elms LLP acquired a new position in shares of Chevron during the fourth quarter valued at $29,000. Finally, Navigoe LLC bought a new position in shares of Chevron during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company restated an "overweight" rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Finally, TD Cowen reduced their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $160.65.

Chevron Trading Up 0.8%

NYSE CVX traded up $1.18 during trading on Thursday, reaching $154.20. 8,389,843 shares of the stock traded hands, compared to its average volume of 8,351,329. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock's 50-day moving average price is $141.92 and its 200 day moving average price is $148.25. The firm has a market cap of $269.29 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 2.59 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

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 (EPS) for the quarter, topping 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 prior year, the business earned $2.93 EPS. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.44%. Chevron's dividend payout ratio is currently 78.17%.

Chevron Company 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.