Chapin Davis Inc. Has $6.13 Million Stake in Chevron Corporation (NYSE:CVX)

Chapin Davis Inc. increased its position in shares of Chevron Corporation (NYSE:CVX) by 15.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,629 shares of the oil and gas company’s stock after buying an additional 4,877 shares during the quarter. Chevron accounts for 2.1% of Chapin Davis Inc.’s portfolio, making the stock its 9th biggest holding. Chapin Davis Inc.’s holdings in Chevron were worth $6,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC raised its position in Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after purchasing an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after purchasing an additional 2,641 shares during the period. BCGM Wealth Management LLC raised its holdings in shares of Chevron by 33.8% in the 4th quarter. BCGM Wealth Management LLC now owns 2,191 shares of the oil and gas company’s stock worth $317,000 after buying an additional 553 shares in the last quarter. Black Diamond Financial LLC lifted its position in shares of Chevron by 127.3% during the 4th quarter. Black Diamond Financial LLC now owns 4,378 shares of the oil and gas company’s stock worth $634,000 after buying an additional 2,452 shares during the period. Finally, Partners Wealth Management LLC bought a new position in shares of Chevron during the 4th quarter worth approximately $316,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 1.8%

NYSE:CVX opened at $146.92 on Tuesday. The company has a market cap of $256.58 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 2.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock’s fifty day moving average price is $139.60 and its two-hundred day moving average price is $148.52. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly 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. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.93 earnings per share. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CVX shares. Piper Sandler dropped their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Mizuho decreased their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average target price of $160.24.

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.