Victrix Investment Advisors Makes New $448,000 Investment in Chevron Corporation (NYSE:CVX)

Victrix Investment Advisors purchased a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,743 shares of the oil and gas company's stock, valued at approximately $448,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Eagle Capital Management LLC grew its holdings in shares of 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 valued at $5,011,000 after buying an additional 242 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after acquiring an additional 2,641 shares in the last quarter. NewEdge Wealth LLC grew its stake in Chevron by 2.1% in the fourth quarter. NewEdge Wealth LLC now owns 57,277 shares of the oil and gas company's stock valued at $8,296,000 after acquiring an additional 1,153 shares during the period. Proficio Capital Partners LLC grew its stake in Chevron by 22,996.9% in the fourth quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company's stock valued at $122,741,000 after acquiring an additional 843,756 shares during the period. Finally, CORDA Investment Management LLC. increased its holdings in shares of Chevron by 24.0% in the fourth quarter. CORDA Investment Management LLC. now owns 13,806 shares of the oil and gas company's stock worth $2,000,000 after acquiring an additional 2,670 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of CVX opened at $143.87 on Friday. The stock has a market capitalization of $251.26 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.54 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a 50 day moving average of $140.20 and a 200-day moving average of $148.27. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

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 for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the business earned $2.93 EPS. The business's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.75%. Chevron's dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. UBS Group lowered their target price 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 cut Chevron from a "buy" rating to a "hold" rating and lowered their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, 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 note on Thursday. 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 stock. Based on data from MarketBeat, Chevron presently has an average rating of "Hold" and a consensus target price of $160.29.

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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