Warner Financial Inc. Buys Shares of 1,327 Chevron Corporation (NYSE:CVX)

Warner Financial Inc. purchased a new stake in Chevron Corporation (NYSE:CVX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,327 shares of the oil and gas company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the 4th quarter worth about $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the 4th quarter worth approximately $29,000. 10Elms LLP acquired a new position in Chevron during the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC grew its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $148.86 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The business has a 50-day moving average of $138.78 and a 200-day moving average of $148.91. The stock has a market capitalization of $259.97 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during 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% compared to the same quarter last year. During the same period last year, the company earned $2.93 earnings per share. As a group, sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 annualized dividend and a dividend yield of 4.59%. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and reduced their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Redburn Atlantic reissued a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $160.24.

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.