Unison Advisors LLC Makes New Investment in Chevron Corporation (NYSE:CVX)

Unison Advisors LLC bought a new position in shares of Chevron Corporation (NYSE:CVX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,900 shares of the oil and gas company’s stock, valued at approximately $2,994,000.

A number of other institutional investors have also added to or reduced their stakes in CVX. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the fourth quarter valued at $29,000. 10Elms LLP purchased a new position in Chevron during the fourth quarter worth $29,000. IFS Advisors LLC boosted its stake in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares during the period. Navigoe LLC purchased a new position in Chevron during the fourth quarter worth $33,000. Finally, Cloud Capital Management LLC purchased a new position in Chevron during the first quarter worth $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $152.96 on Thursday. The business’s 50 day moving average price is $144.59 and its 200 day moving average price is $148.73. The firm has a market cap of $267.12 billion, a P/E ratio of 17.48, a P/E/G ratio of 2.48 and a beta of 0.83. 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 earnings results on Friday, May 2nd. The oil and gas company reported $2.18 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 analyst estimates of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 earnings per share. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed 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 was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.47%. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. TD Cowen dropped their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company boosted their target price on shares of Chevron from $165.00 to $178.00 and gave the company an “overweight” rating in a research note on Wednesday. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Hold” and an average price target of $162.13.

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.