PFG Advisors Buys 3,764 Shares of Chevron Corporation (NYSE:CVX)

PFG Advisors grew its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,302 shares of the oil and gas company's stock after purchasing an additional 3,764 shares during the quarter. PFG Advisors' holdings in Chevron were worth $6,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Eagle Capital Management LLC increased its holdings in Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after acquiring an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after buying an additional 2,641 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Chevron during the 4th quarter valued at approximately $3,947,000. Clune & Associates LTD. purchased a new stake in Chevron during the 4th quarter valued at approximately $367,000. Finally, Congress Wealth Management LLC DE grew its holdings in Chevron by 0.6% during the 4th quarter. Congress Wealth Management LLC DE now owns 133,344 shares of the oil and gas company's stock valued at $19,314,000 after buying an additional 785 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a report on Friday, July 18th. TD Cowen cut their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Finally, Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. 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. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $162.13.

Chevron Trading Up 1.7%

CVX stock traded up $2.61 during mid-day trading on Thursday, reaching $155.73. 8,980,919 shares of the stock traded hands, compared to its average volume of 9,473,958. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a market capitalization of $271.97 billion, a PE ratio of 17.80, a PEG ratio of 2.48 and a beta of 0.83. The business has a 50-day moving average price of $144.59 and a two-hundred day moving average price of $148.73.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating 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 business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the previous year, the business posted $2.93 earnings per share. The business's revenue was down 2.3% compared to the same quarter last year. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is 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.