Evernest Financial Advisors LLC Raises Position in Chevron Corporation (NYSE:CVX)

Evernest Financial Advisors LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 31.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,827 shares of the oil and gas company’s stock after buying an additional 1,149 shares during the period. Evernest Financial Advisors LLC’s holdings in Chevron were worth $808,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CVX. Sage Capital Advisors llc increased its position in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after purchasing an additional 919 shares in the last quarter. CCG Wealth Management LLC lifted its holdings in 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 in the last quarter. Ignite Planners LLC boosted its stake in Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. grew its holdings in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after buying an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Chevron by 0.5% in the first 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 buying an additional 675 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.1%

Shares of NYSE:CVX opened at $152.82 on Thursday. The company has a market capitalization of $266.89 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.29 and a beta of 0.87. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The business has a 50-day moving average price of $147.78 and a 200 day moving average price of $148.71. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the business earned $2.55 earnings per share. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given 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%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CVX shares. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday. Scotiabank restated a “sector perform” rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Barclays reiterated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Raymond James Financial restated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus price target of $164.11.

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.