DGS Capital Management LLC Makes New Investment in Chevron Corporation $CVX

DGS Capital Management LLC purchased a new stake in Chevron Corporation (NYSE:CVX) during the 1st quarter, HoldingsChannel reports. The fund purchased 3,562 shares of the oil and gas company’s stock, valued at approximately $737,000.

Other large investors have also recently modified their holdings of the company. Ascentis Independent Advisors increased its position in shares of Chevron by 132.1% in the first quarter. Ascentis Independent Advisors now owns 40,109 shares of the oil and gas company’s stock worth $8,299,000 after purchasing an additional 22,825 shares during the last quarter. Stephens Inc. AR lifted its position in Chevron by 2.9% during the first quarter. Stephens Inc. AR now owns 268,036 shares of the oil and gas company’s stock valued at $55,516,000 after purchasing an additional 7,568 shares during the last quarter. Hardy Reed LLC grew its stake in Chevron by 1.7% in the 1st quarter. Hardy Reed LLC now owns 10,919 shares of the oil and gas company’s stock worth $2,259,000 after buying an additional 178 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in Chevron by 13.8% in the 1st quarter. Raleigh Capital Management Inc. now owns 16,576 shares of the oil and gas company’s stock worth $3,430,000 after buying an additional 2,011 shares in the last quarter. Finally, Lee Danner & Bass Inc. increased its holdings in shares of Chevron by 1.6% in the 1st quarter. Lee Danner & Bass Inc. now owns 32,870 shares of the oil and gas company’s stock worth $6,801,000 after buying an additional 507 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CVX shares. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Mizuho increased their target price on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Wells Fargo & Company raised their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, TD Cowen lifted their price target on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.71.

Chevron Stock Down 0.6%

Shares of NYSE CVX opened at $168.14 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 52 week low of $145.58 and a 52 week high of $214.71. The firm’s fifty day moving average is $183.31 and its 200 day moving average is $180.61. The company has a market cap of $334.87 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 0.57 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.18 EPS. On average, equities research analysts expect that Chevron Corporation will post 15.52 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.