Fairfield Financial Advisors LTD Takes $591,000 Position in Chevron Co. (NYSE:CVX)

Fairfield Financial Advisors LTD purchased a new position in Chevron Co. (NYSE:CVX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,778 shares of the oil and gas company’s stock, valued at approximately $591,000.

A number of other hedge funds also recently bought and sold shares of CVX. Gilbert & Cook Inc. raised its position in Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after purchasing an additional 369 shares during the period. Aveo Capital Partners LLC raised its holdings in Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after buying an additional 82 shares during the period. Gryphon Financial Partners LLC lifted its position in Chevron by 55.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after buying an additional 4,047 shares during the last quarter. Brown Advisory Inc. boosted its stake in Chevron by 1.5% during the fourth quarter. Brown Advisory Inc. now owns 203,559 shares of the oil and gas company’s stock worth $30,363,000 after buying an additional 2,936 shares during the period. Finally, TrinityPoint Wealth LLC raised its stake in shares of Chevron by 6.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock valued at $1,588,000 after acquiring an additional 680 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $140.61 on Monday. The firm has a market cap of $257.16 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.41 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $149.12 and its 200 day moving average is $154.75.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $3.08 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.64%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of research firms recently commented on CVX. Truist Financial dropped their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Scotiabank cut their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada reduced their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Barclays dropped their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

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.