Atlas Legacy Advisors LLC Grows Position in Chevron Corporation (NYSE:CVX)

Atlas Legacy Advisors LLC increased its stake in Chevron Corporation (NYSE:CVX) by 10.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 4,349 shares of the oil and gas company’s stock after purchasing an additional 405 shares during the quarter. Atlas Legacy Advisors LLC’s holdings in Chevron were worth $728,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sage Capital Advisors llc grew its stake in shares of Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after buying an additional 919 shares in the last quarter. CCG Wealth Management LLC grew its stake in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after buying an additional 145 shares in the last quarter. Ignite Planners LLC grew its stake in shares of Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. grew its stake in shares of Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after buying an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after purchasing an additional 675 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Scotiabank restated a “sector perform” rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Wells Fargo & Company raised their price objective on Chevron from $165.00 to $178.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. TD Cowen lowered their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Piper Sandler restated an “overweight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, Redburn Atlantic restated a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $162.13.

Chevron Price Performance

Shares of CVX opened at $154.84 on Monday. The firm has a market cap of $270.40 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.44 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $145.12 and a 200-day moving average of $148.82.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for 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 business’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.93 EPS. As a group, analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

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.