Chevron Corporation (NYSE:CVX) Position Increased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC increased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 13.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,589 shares of the oil and gas company's stock after acquiring an additional 5,873 shares during the period. Valeo Financial Advisors LLC's holdings in Chevron were worth $8,296,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. IMG Wealth Management Inc. acquired a new position in Chevron during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new position in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP acquired a new position in Chevron during the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC lifted its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after buying an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.8%

Shares of NYSE:CVX traded up $1.21 during midday trading on Friday, reaching $155.38. The company had a trading volume of 8,332,244 shares, compared to its average volume of 8,352,057. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The stock's fifty day moving average price is $142.62 and its 200-day moving average price is $148.41. The stock has a market capitalization of $271.35 billion, a P/E ratio of 17.76, a PEG ratio of 2.61 and a beta of 0.83. 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 issued its quarterly 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. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.93 earnings per share. Equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron's payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CVX shares. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 target price (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Mizuho reduced their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Piper Sandler boosted their target price on shares of Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.