Southern Capital Advisors LLC Grows Holdings in Chevron Corporation (NYSE:CVX)

Southern Capital Advisors LLC raised its stake in shares of Chevron Corporation (NYSE:CVX) by 16.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,037 shares of the oil and gas company’s stock after acquiring an additional 286 shares during the period. Southern Capital Advisors LLC’s holdings in Chevron were worth $341,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVX. IMG Wealth Management Inc. purchased a new stake in Chevron during the 4th quarter valued at approximately $25,000. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the 4th quarter valued at approximately $29,000. 10Elms LLP purchased a new stake in Chevron during the 4th quarter valued at approximately $29,000. Finally, Fairway Wealth LLC grew its holdings in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 1.8%

Shares of CVX opened at $146.92 on Tuesday. The company has a market cap of $256.58 billion, a PE ratio of 16.79, a P/E/G ratio of 2.63 and a beta of 0.83. The business has a fifty day moving average of $139.60 and a 200 day moving average of $148.52. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company 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%. Chevron’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the company earned $2.93 earnings per share. On average, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 yield of 4.66%. Chevron’s payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CVX shares. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and lowered their target price for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $160.24.

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.