Rovin Capital UT ADV Increases Holdings in Chevron Corporation (NYSE:CVX)

Rovin Capital UT ADV lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,715 shares of the oil and gas company’s stock after purchasing an additional 199 shares during the quarter. Rovin Capital UT ADV’s holdings in Chevron were worth $454,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Capital Management LLC increased its holdings in shares of 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 during the period. Bank Pictet & Cie Europe AG grew its position in Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after acquiring an additional 2,641 shares in the last quarter. Modera Wealth Management LLC increased its stake in Chevron by 0.3% in the fourth quarter. Modera Wealth Management LLC now owns 30,735 shares of the oil and gas company’s stock valued at $4,452,000 after acquiring an additional 106 shares during the last quarter. Bellecapital International Ltd. lifted its stake in Chevron by 40.5% during the fourth quarter. Bellecapital International Ltd. now owns 24,333 shares of the oil and gas company’s stock worth $3,524,000 after purchasing an additional 7,019 shares during the last quarter. Finally, DJE Kapital AG purchased a new position in shares of Chevron in the 4th quarter worth about $78,111,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $143.32 on Tuesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s 50-day simple moving average is $140.40 and its two-hundred day simple moving average is $148.10. The stock has a market cap of $250.29 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 2.52 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.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the business posted $2.93 EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.77%. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CVX shares. TD Cowen dropped their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Redburn Atlantic restated a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 target price (up previously from $164.00) on shares of Chevron in a research note on Thursday. Piper Sandler lowered their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Finally, Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $160.29.

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.