Thoroughbred Financial Services LLC Has $7.95 Million Position in Chevron Corporation (NYSE:CVX)

Thoroughbred Financial Services LLC raised its holdings in Chevron Corporation (NYSE:CVX) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,537 shares of the oil and gas company’s stock after acquiring an additional 3,286 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Chevron were worth $7,952,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Harvest Fund Management Co. Ltd increased its holdings in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP acquired a new position in shares of Chevron during the 4th quarter worth about $29,000. IFS Advisors LLC raised its holdings in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the period. Navigoe LLC acquired a new stake in Chevron during the 4th quarter worth $33,000. Finally, Cloud Capital Management LLC acquired a new stake in shares of Chevron during the first quarter worth about $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $150.81 on Tuesday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market capitalization of $263.37 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.31 and a beta of 0.87. The company has a 50-day simple moving average of $147.14 and a 200 day simple moving average of $148.65. 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 issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the business posted $2.55 earnings per share. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s payout ratio is 88.03%.

Wall Street Analyst Weigh In

Several research firms have commented on CVX. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Redburn Atlantic reissued 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. Scotiabank restated a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Finally, Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus price target of $164.11.

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.