Gries Financial LLC Has $1.33 Million Stake in Chevron Corporation (NYSE:CVX)

Gries Financial LLC grew its holdings in Chevron Corporation (NYSE:CVX) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,934 shares of the oil and gas company’s stock after purchasing an additional 243 shares during the period. Gries Financial LLC’s holdings in Chevron were worth $1,327,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CoreCap Advisors LLC grew its stake in Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock worth $4,091,000 after buying an additional 71 shares during the last quarter. Clayton Financial Group LLC lifted its position in Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 75 shares during the period. Requisite Capital Management LLC lifted its position in Chevron by 1.2% during the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock worth $1,064,000 after acquiring an additional 77 shares during the period. Silverlake Wealth Management LLC lifted its position in Chevron by 0.7% during the 1st quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company’s stock worth $1,828,000 after acquiring an additional 78 shares during the period. Finally, Annandale Capital LLC lifted its position in Chevron by 5.7% during the 4th quarter. Annandale Capital LLC now owns 1,471 shares of the oil and gas company’s stock worth $213,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $150.11 on Monday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The business has a 50-day moving average price of $144.04 and a 200 day moving average price of $148.68. 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 firm has a market cap of $262.15 billion, a PE ratio of 17.24, a P/E/G ratio of 2.48 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the business earned $2.93 EPS. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.56%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. TD Cowen lowered their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $161.31.

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.