Advisory Resource Group Has $706,000 Stock Holdings in Chevron Corporation (NYSE:CVX)

Advisory Resource Group reduced its holdings in Chevron Corporation (NYSE:CVX) by 2.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,218 shares of the oil and gas company’s stock after selling 95 shares during the period. Advisory Resource Group’s holdings in Chevron were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CVX. Silver Oak Securities Incorporated grew its position in Chevron by 5.4% in the 1st quarter. Silver Oak Securities Incorporated now owns 8,086 shares of the oil and gas company’s stock worth $1,343,000 after purchasing an additional 416 shares during the last quarter. ORG Wealth Partners LLC lifted its stake in shares of Chevron by 438.3% in the first quarter. ORG Wealth Partners LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,093,000 after buying an additional 5,281 shares during the period. Trivant Custom Portfolio Group LLC grew its position in Chevron by 1.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 16,406 shares of the oil and gas company’s stock worth $2,745,000 after buying an additional 167 shares in the last quarter. Sterling Investment Counsel LLC grew its position in Chevron by 72.1% during the first quarter. Sterling Investment Counsel LLC now owns 3,754 shares of the oil and gas company’s stock worth $628,000 after buying an additional 1,573 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its stake in Chevron by 12.5% during the first quarter. Global X Japan Co. Ltd. now owns 3,890 shares of the oil and gas company’s stock valued at $651,000 after acquiring an additional 432 shares during the period. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. BNP Paribas lowered Chevron to a “cautious” rating in a report on Tuesday, April 15th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Three 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

NYSE CVX opened at $148.18 on Thursday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a 50 day moving average of $138.82 and a 200-day moving average of $148.90. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market cap of $258.78 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.61 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS 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 business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the company earned $2.93 EPS. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid 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 4.62%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Chevron Company 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.