San Luis Wealth Advisors LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

San Luis Wealth Advisors LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 32.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,850 shares of the oil and gas company's stock after acquiring an additional 2,391 shares during the period. San Luis Wealth Advisors LLC's holdings in Chevron were worth $1,648,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CVX. Capital & Planning LLC boosted its position in shares of Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock worth $243,000 after purchasing an additional 222 shares in the last quarter. Eagle Capital Management LLC boosted its position in shares of Chevron by 0.7% during 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 purchasing an additional 242 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Chevron during the 4th quarter worth $8,947,000. Bank Pictet & Cie Europe AG boosted its position in shares of 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 worth $5,212,000 after purchasing an additional 2,641 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its position in shares of Chevron by 212.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company's stock worth $775,000 after purchasing an additional 3,639 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the subject of several research reports. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Mizuho cut their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and cut their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Stock Up 0.1%

Shares of NYSE:CVX opened at $146.07 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market capitalization of $255.09 billion, a P/E ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83. The stock has a 50-day simple moving average of $138.72 and a 200-day simple moving average of $148.91.

Chevron (NYSE:CVX - Get Free Report) last issued 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 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts forecast that Chevron Co. 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. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Monday, May 19th. Chevron's dividend 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.

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