Affinity Capital Advisors LLC Buys 904 Shares of Chevron Co. (NYSE:CVX)

Affinity Capital Advisors LLC increased its holdings in Chevron Co. (NYSE:CVX) by 23.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,799 shares of the oil and gas company’s stock after purchasing an additional 904 shares during the period. Affinity Capital Advisors LLC’s holdings in Chevron were worth $803,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVX. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP purchased a new position in Chevron in the 4th quarter worth about $29,000. Fairway Wealth LLC raised its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the last quarter. Finally, IFS Advisors LLC increased its position in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVX. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Finally, Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Up 0.5%

Chevron stock opened at $145.74 on Friday. The firm has a market cap of $254.52 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $138.53 and its 200 day moving average price is $149.11. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the business earned $2.93 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.