Blankinship & Foster LLC Makes New $218,000 Investment in Chevron Corporation (NYSE:CVX)

Blankinship & Foster LLC purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the 1st quarter, Holdings Channel.com reports. The fund purchased 1,303 shares of the oil and gas company’s stock, valued at approximately $218,000.

Several other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Norges Bank acquired a new position in shares of Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp increased its holdings in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company’s stock worth $2,502,850,000 after acquiring an additional 79,917 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Chevron by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company’s stock worth $2,421,564,000 after acquiring an additional 211,023 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $150.20 on Wednesday. Chevron Corporation has a 12-month low of $132.04 and a 12-month 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. The business’s 50-day moving average price is $144.04 and its two-hundred day moving average price is $148.68. The stock has a market cap of $262.31 billion, a PE ratio of 17.17, a P/E/G ratio of 2.47 and a beta of 0.83.

Chevron (NYSE:CVX) last released its earnings results 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 firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the previous year, the business posted $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts expect 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. Shareholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.55%. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 price objective (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, UBS Group decreased their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $161.31.

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.