Silverleafe Capital Partners LLC Increases Stake in Chevron Corporation (NYSE:CVX)

Silverleafe Capital Partners LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,901 shares of the oil and gas company’s stock after buying an additional 83 shares during the period. Silverleafe Capital Partners LLC’s holdings in Chevron were worth $987,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital & Planning LLC grew its holdings in Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 222 shares in the last quarter. Eagle Capital Management LLC grew its holdings in Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after acquiring an additional 242 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Chevron during the 4th quarter worth approximately $8,947,000. Bank Pictet & Cie Europe AG grew its holdings in Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after acquiring an additional 2,641 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in Chevron by 212.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company’s stock worth $775,000 after acquiring an additional 3,639 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Trading Down 0.4%

Shares of Chevron stock 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 debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $258.78 billion, a P/E ratio of 16.93, a PEG ratio of 2.61 and a beta of 0.83. The company’s fifty day moving average is $138.82 and its two-hundred day moving average is $148.90.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the firm posted $2.93 EPS. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

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.