Chevron Corporation (NYSE:CVX) Stake Increased by Davidson Trust Co.

by · The Markets Daily

Davidson Trust Co. grew its position in Chevron Corporation (NYSE:CVX – Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 26,160 shares of the oil and gas company’s stock after buying an additional 131 shares during the period. Chevron makes up about 2.1% of Davidson Trust Co.’s investment portfolio, making the stock its 8th largest holding. Davidson Trust Co.’s holdings in Chevron were worth $4,376,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CVX. Checchi Capital Advisers LLC boosted its stake in Chevron by 4.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 22,227 shares of the oil and gas company’s stock valued at $3,718,000 after purchasing an additional 953 shares during the last quarter. Castle Wealth Management LLC lifted its holdings in shares of Chevron by 10.6% during the first quarter. Castle Wealth Management LLC now owns 6,920 shares of the oil and gas company’s stock valued at $1,158,000 after purchasing an additional 666 shares in the last quarter. North Capital Inc. bought a new position in shares of Chevron during the first quarter valued at $99,000. Barlow Wealth Partners Inc. boosted its position in shares of Chevron by 5.3% during the first quarter. Barlow Wealth Partners Inc. now owns 5,961 shares of the oil and gas company’s stock valued at $997,000 after buying an additional 300 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc. increased its holdings in Chevron by 16.0% in the 1st quarter. Mountain Capital Investment Advisors Inc. now owns 1,573 shares of the oil and gas company’s stock worth $263,000 after buying an additional 217 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $148.23 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a 50-day simple moving average of $140.97 and a two-hundred day simple moving average of $148.07. The firm has a market capitalization of $258.86 billion, a PE ratio of 16.94, a P/E/G ratio of 2.52 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $49.05 billion. During the same period in the previous year, the company posted $2.93 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.61%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Piper Sandler increased their price target on Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Redburn Atlantic restated a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $160.41.

Read Our Latest Stock Analysis on Chevron

About Chevron

(Free Report)

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.

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