Berger Financial Group Inc Raises Stake in Chevron Corporation (NYSE:CVX)

Berger Financial Group Inc grew its stake in shares of Chevron Corporation (NYSE:CVX) by 2.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,419 shares of the oil and gas company’s stock after purchasing an additional 92 shares during the period. Berger Financial Group Inc’s holdings in Chevron were worth $739,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. CoreCap Advisors LLC boosted its position in shares of Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock worth $4,091,000 after buying an additional 71 shares in the last quarter. Clayton Financial Group LLC boosted its position in shares of Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after buying an additional 75 shares in the last quarter. Gill Capital Partners LLC boosted its position in shares of Chevron by 4.9% in the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock worth $271,000 after buying an additional 75 shares in the last quarter. Cordatus Wealth Management LLC boosted its position in shares of Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company’s stock worth $3,299,000 after buying an additional 76 shares in the last quarter. Finally, Requisite Capital Management LLC boosted its position in shares of Chevron by 1.2% in the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock worth $1,064,000 after buying an additional 77 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVX shares. Scotiabank reiterated a “sector perform” rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and cut their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Barclays reissued an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, Morgan Stanley initiated coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $164.11.

Chevron Stock Up 1.2%

CVX opened at $154.98 on Friday. The firm has a 50 day moving average price of $148.45 and a 200 day moving average price of $148.58. The company has a market cap of $270.66 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.32 and a beta of 0.87. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

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.