Legacy Financial Advisors Inc. Has $2.36 Million Position in Chevron Corporation $CVX

Legacy Financial Advisors Inc. raised its stake in shares of Chevron Corporation (NYSE:CVX) by 4.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,083 shares of the oil and gas company’s stock after buying an additional 646 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Chevron were worth $2,356,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Texas Capital Bancshares Inc TX grew its position in shares of Chevron by 10.0% during the 1st quarter. Texas Capital Bancshares Inc TX now owns 2,040 shares of the oil and gas company’s stock worth $341,000 after buying an additional 186 shares during the period. Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Chevron by 44.9% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 8,317 shares of the oil and gas company’s stock valued at $1,391,000 after purchasing an additional 2,578 shares in the last quarter. CWS Financial Advisors LLC lifted its holdings in shares of Chevron by 4.1% during the 1st quarter. CWS Financial Advisors LLC now owns 6,414 shares of the oil and gas company’s stock valued at $1,073,000 after purchasing an additional 250 shares in the last quarter. Colonial Trust Advisors lifted its holdings in shares of Chevron by 0.5% during the 1st quarter. Colonial Trust Advisors now owns 69,561 shares of the oil and gas company’s stock valued at $11,637,000 after purchasing an additional 334 shares in the last quarter. Finally, Financial Advisors Network Inc. lifted its holdings in shares of Chevron by 3.7% during the 1st quarter. Financial Advisors Network Inc. now owns 14,671 shares of the oil and gas company’s stock valued at $2,454,000 after purchasing an additional 524 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVX shares. HSBC cut Chevron from a “buy” rating to a “hold” rating and cut their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Scotiabank reiterated a “sector perform” rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Finally, DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $164.33.

Chevron Trading Down 0.7%

NYSE CVX opened at $155.44 on Tuesday. The company has a market cap of $268.60 billion, a PE ratio of 20.01, a PEG ratio of 2.35 and a beta of 0.87. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a 50 day moving average of $150.42 and a 200-day moving average of $148.53.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.55 EPS. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio is presently 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.