Schear Investment Advisers LLC Buys 1,968 Shares of Chevron Corporation (NYSE:CVX)

Schear Investment Advisers LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 30.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,521 shares of the oil and gas company's stock after buying an additional 1,968 shares during the quarter. Schear Investment Advisers LLC's holdings in Chevron were worth $1,425,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sage Capital Advisors llc raised its stake in shares of Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares during the period. CCG Wealth Management LLC raised its stake in shares of Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after purchasing an additional 675 shares during the period. Pines Wealth Management LLC raised its stake in shares of Chevron by 3.3% in the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after purchasing an additional 253 shares during the period. Finally, Viking Fund Management LLC increased its position in shares of Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock valued at $19,573,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX stock traded up $1.21 during trading on Friday, hitting $155.38. The company had a trading volume of 8,332,244 shares, compared to its average volume of 8,359,711. 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 firm has a market capitalization of $271.35 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83. The stock's 50-day moving average price is $142.62 and its 200 day moving average price is $148.44. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm 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 company earned $2.93 earnings per share. The company's quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. Chevron's payout ratio is 78.17%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent research reports. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. TD Cowen lowered their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Piper Sandler boosted their price target on Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Finally, Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Chevron has a consensus rating of "Hold" and a consensus price target of $161.65.

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.