Theory Financial LLC Has $412,000 Holdings in Chevron Corporation (NYSE:CVX)

Theory Financial LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 18.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,465 shares of the oil and gas company’s stock after buying an additional 388 shares during the period. Theory Financial LLC’s holdings in Chevron were worth $412,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. IMG Wealth Management Inc. bought a new position in shares of Chevron during the 4th quarter worth about $25,000. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter valued at about $29,000. 10Elms LLP bought a new position in Chevron in the 4th quarter valued at about $29,000. Finally, Navigoe LLC bought a new position in Chevron in the 4th quarter valued at about $33,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE:CVX opened at $150.78 on Wednesday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market capitalization of $263.32 billion, a P/E ratio of 17.26, a PEG ratio of 2.57 and a beta of 0.83. The firm has a fifty day simple moving average of $143.24 and a two-hundred day simple moving average of $148.54. 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) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. 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 previous year, the company earned $2.93 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 dividend on an annualized basis and a dividend yield of 4.54%. Chevron’s dividend payout ratio is presently 78.17%.

Analyst Upgrades and Downgrades

Several research firms have commented on CVX. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Barclays reiterated an “equal weight” rating on shares of Chevron in a research note on Tuesday. Scotiabank reiterated a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Piper Sandler reiterated an “overweight” rating on shares of Chevron in a research note on Tuesday. Finally, TD Cowen decreased their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $161.65.

Chevron Company Profile

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.