Shepherd Financial Partners LLC Buys 356 Shares of Chevron Corporation (NYSE:CVX)

Shepherd Financial Partners LLC raised its position in Chevron Corporation (NYSE:CVX) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,764 shares of the oil and gas company’s stock after acquiring an additional 356 shares during the quarter. Shepherd Financial Partners LLC’s holdings in Chevron were worth $797,000 at the end of the most recent quarter.

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

Chevron Stock Up 1.9%

Chevron stock opened at $148.86 on Wednesday. The firm has a market cap of $259.97 billion, a P/E ratio of 17.01, a P/E/G ratio of 2.56 and a beta of 0.83. The business has a fifty day moving average of $138.78 and a two-hundred day moving average of $148.91. Chevron Corporation has a twelve month low of $132.04 and a twelve 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.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the firm earned $2.93 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.59%. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. TD Cowen decreased their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Finally, DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.