Tectonic Advisors LLC Has $1.23 Million Holdings in Chevron Corporation (NYSE:CVX)

Tectonic Advisors LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,333 shares of the oil and gas company’s stock after buying an additional 251 shares during the quarter. Tectonic Advisors LLC’s holdings in Chevron were worth $1,227,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Berkeley Capital Partners LLC increased its position in shares of Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock valued at $2,572,000 after purchasing an additional 67 shares during the period. CoreCap Advisors LLC increased its position in shares of Chevron by 0.3% during the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock valued at $4,091,000 after purchasing an additional 71 shares during the period. Clayton Financial Group LLC increased its position in shares of Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 75 shares during the period. Requisite Capital Management LLC increased its position in shares of Chevron by 1.2% during the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock valued at $1,064,000 after purchasing an additional 77 shares during the period. Finally, Silverlake Wealth Management LLC increased its position in shares of Chevron by 0.7% during the first quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company’s stock valued at $1,828,000 after purchasing an additional 78 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX stock opened at $150.71 on Wednesday. The stock’s fifty day moving average is $143.24 and its 200-day moving average is $148.54. 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 has a market capitalization of $263.20 billion, a PE ratio of 17.22, a PEG ratio of 2.57 and a beta of 0.83. Chevron Corporation 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 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.93 earnings per share. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is presently 78.17%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. TD Cowen lowered their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research report on Tuesday, May 6th. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. HSBC cut Chevron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, Barclays reiterated an “equal weight” rating on shares of Chevron in a research report on Tuesday. 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. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and an average target price of $161.65.

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.