PSI Advisors LLC Acquires 916 Shares of Chevron Co. (NYSE:CVX)

Posted by on Jul 14th, 2023

PSI Advisors LLC raised its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 12.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,541 shares of the oil and gas company’s stock after acquiring an additional 916 shares during the period. PSI Advisors LLC’s holdings in Chevron were worth $1,393,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Everett Harris & Co. CA increased its stake in shares of Chevron by 0.9% in the first quarter. Everett Harris & Co. CA now owns 531,599 shares of the oil and gas company’s stock worth $86,736,000 after buying an additional 4,984 shares during the period. Steph & Co. increased its stake in shares of Chevron by 6.3% in the first quarter. Steph & Co. now owns 4,943 shares of the oil and gas company’s stock worth $806,000 after buying an additional 295 shares during the period. Mayflower Financial Advisors LLC increased its position in Chevron by 1.6% during the 4th quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock valued at $16,533,000 after purchasing an additional 1,453 shares during the period. M&R Capital Management Inc. increased its position in Chevron by 9.8% during the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock valued at $1,361,000 after purchasing an additional 674 shares during the period. Finally, Albion Financial Group UT increased its position in Chevron by 0.6% during the 4th quarter. Albion Financial Group UT now owns 17,553 shares of the oil and gas company’s stock valued at $3,151,000 after purchasing an additional 105 shares during the period. 69.65% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $157.50 on Friday. Chevron Co. has a fifty-two week low of $132.54 and a fifty-two week high of $189.68. The business has a 50-day simple moving average of $155.96 and a two-hundred day simple moving average of $164.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43. The firm has a market cap of $298.41 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.16.

Chevron (NYSE:CVX – Get Free Report) last issued its earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.14. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The business had revenue of $50.79 billion during the quarter, compared to analyst estimates of $49.49 billion. During the same quarter in the previous year, the firm earned $3.36 EPS. Chevron’s revenue was down 6.6% on a year-over-year basis. On average, analysts expect that Chevron Co. will post 13.83 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 19th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio (DPR) is 32.61%.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Citigroup reduced their price objective on shares of Chevron from $180.00 to $170.00 in a research report on Tuesday. Piper Sandler reduced their price objective on shares of Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $180.00 in a research report on Thursday, June 1st. BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price on the stock in a report on Tuesday, April 4th. Finally, Raymond James dropped their target price on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a report on Friday, April 14th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.63.

Chevron Company Profile

(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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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