Silver Oak Advisory Group Inc. Invests $269,000 in Chevron Corporation (NYSE:CVX)

Silver Oak Advisory Group Inc. acquired a new stake in Chevron Corporation (NYSE:CVX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,612 shares of the oil and gas company’s stock, valued at approximately $269,000.

Other large investors have also bought and sold shares of the company. CoreCap Advisors LLC boosted its stake in Chevron by 0.3% during the fourth 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 period. Clayton Financial Group LLC boosted 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 worth $285,000 after buying an additional 75 shares during the period. Gill Capital Partners LLC grew its stake in shares of Chevron by 4.9% in the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock valued at $271,000 after buying an additional 75 shares in the last quarter. Cordatus Wealth Management LLC lifted its stake in Chevron by 0.4% during the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company’s stock worth $3,299,000 after acquiring an additional 76 shares in the last quarter. Finally, Requisite Capital Management LLC increased its stake in 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 worth $1,064,000 after purchasing an additional 77 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVX. Mizuho reduced their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. UBS Group reiterated a “buy” rating and set a $186.00 target price (up previously from $177.00) on shares of Chevron in a research note on Monday. TD Cowen raised their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $164.11.

Chevron Trading Down 0.1%

Shares of Chevron stock opened at $152.82 on Thursday. The company has a 50-day moving average of $147.78 and a two-hundred day moving average of $148.71. The stock has a market cap of $266.89 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.29 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 return on equity of 9.80% and a net margin of 7.02%. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the previous year, the company posted $2.55 EPS. The business’s revenue was down 12.4% on a year-over-year basis. On average, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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

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.