Brown Shipley& Co Ltd Has $3.09 Million Stake in Chevron Corporation $CVX

Brown Shipley& Co Ltd lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 0.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 18,477 shares of the oil and gas company’s stock after selling 105 shares during the period. Chevron makes up 1.8% of Brown Shipley& Co Ltd’s investment portfolio, making the stock its 22nd biggest holding. Brown Shipley& Co Ltd’s holdings in Chevron were worth $3,091,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Harvest Fund Management Co. Ltd lifted its position in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP bought a new stake in shares of Chevron during the first quarter valued at approximately $31,000. 10Elms LLP acquired a new position in shares of Chevron in the fourth quarter valued at $29,000. IFS Advisors LLC lifted its position in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the period. Finally, Navigoe LLC bought a new position in Chevron in the fourth quarter worth $33,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several analyst reports. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Melius Research started coverage on Chevron in a research note on Wednesday. They issued a “hold” rating and a $155.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $163.95.

Chevron Stock Performance

NYSE:CVX opened at $152.8990 on Thursday. The stock has a market capitalization of $264.21 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 2.25 and a beta of 0.87. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50 day moving average of $150.76 and a 200-day moving average of $148.59.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the company earned $2.55 EPS. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s payout ratio is currently 88.03%.

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.