Souders Financial Advisors Grows Stock Holdings in Chevron Corporation (NYSE:CVX)

Souders Financial Advisors raised its position in shares of Chevron Corporation (NYSE:CVX) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,685 shares of the oil and gas company’s stock after buying an additional 441 shares during the quarter. Souders Financial Advisors’ holdings in Chevron were worth $1,286,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after buying an additional 392,916 shares during the period. Norges Bank acquired a new position in Chevron in the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp increased its holdings in Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after buying an additional 1,394,091 shares during the period. Franklin Resources Inc. increased its holdings in Chevron by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company’s stock worth $2,502,850,000 after buying an additional 79,917 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company’s stock worth $2,421,564,000 after buying an additional 211,023 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 1.1%

Shares of CVX opened at $149.79 on Friday. The stock has a fifty day simple moving average of $144.04 and a two-hundred day simple moving average of $148.67. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $261.59 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 2.45 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 issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company earned $2.93 EPS. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CVX shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday. TD Cowen decreased their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Piper Sandler reiterated an “overweight” rating on shares of Chevron in a research report on Tuesday. Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and a consensus target price of $161.31.

Chevron 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.