Savvy Advisors Inc. Buys 4,846 Shares of Chevron Corporation (NYSE:CVX)

Savvy Advisors Inc. lifted its position in Chevron Corporation (NYSE:CVX - Free Report) by 34.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,001 shares of the oil and gas company's stock after purchasing an additional 4,846 shares during the quarter. Savvy Advisors Inc.'s holdings in Chevron were worth $3,179,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. LaSalle St. Investment Advisors LLC grew its holdings in Chevron by 3.9% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 3,911 shares of the oil and gas company's stock valued at $654,000 after buying an additional 148 shares in the last quarter. AlphaCore Capital LLC raised its holdings in shares of Chevron by 11.9% during the 1st quarter. AlphaCore Capital LLC now owns 22,184 shares of the oil and gas company's stock worth $3,711,000 after acquiring an additional 2,354 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Chevron by 10.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,339,656 shares of the oil and gas company's stock valued at $558,691,000 after acquiring an additional 305,667 shares during the last quarter. WealthPLAN Partners LLC grew its holdings in shares of Chevron by 1.9% in the first quarter. WealthPLAN Partners LLC now owns 36,726 shares of the oil and gas company's stock valued at $6,144,000 after purchasing an additional 696 shares in the last quarter. Finally, Accuvest Global Advisors bought a new stake in Chevron in the first quarter worth $590,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the subject of several research reports. Scotiabank reiterated a "sector perform" rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Mizuho dropped their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Redburn Atlantic restated a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $164.11.

Chevron Price Performance

Shares of CVX stock opened at $153.11 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $267.40 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.29 and a beta of 0.87. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock's 50-day simple moving average is $148.08 and its 200-day simple moving average is $148.65.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.80% and a net margin of 7.02%. Chevron's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 earnings per share. As a group, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron's payout ratio is presently 88.03%.

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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