3Chopt Investment Partners LLC Raises Stake in Chevron Corporation (NYSE:CVX)

3Chopt Investment Partners LLC increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 19.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 12,016 shares of the oil and gas company's stock after purchasing an additional 1,916 shares during the period. 3Chopt Investment Partners LLC's holdings in Chevron were worth $2,010,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Chevron by 14.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 792,317 shares of the oil and gas company's stock worth $131,418,000 after purchasing an additional 99,973 shares in the last quarter. Oakworth Capital Inc. lifted its holdings in Chevron by 6.0% during the 1st quarter. Oakworth Capital Inc. now owns 18,186 shares of the oil and gas company's stock worth $3,042,000 after purchasing an additional 1,029 shares in the last quarter. Money Concepts Capital Corp lifted its holdings in Chevron by 2.0% during the 1st quarter. Money Concepts Capital Corp now owns 8,144 shares of the oil and gas company's stock worth $1,362,000 after purchasing an additional 157 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its holdings in Chevron by 12.8% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 12,472 shares of the oil and gas company's stock worth $2,086,000 after purchasing an additional 1,414 shares in the last quarter. Finally, Pacific Global Investment Management Co. lifted its holdings in Chevron by 2.9% during the 1st quarter. Pacific Global Investment Management Co. now owns 11,076 shares of the oil and gas company's stock worth $1,853,000 after purchasing an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of Chevron stock opened at $143.87 on Friday. 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 capitalization of $251.26 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.83. The business's 50-day moving average price is $140.20 and its 200-day moving average price is $148.27. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate 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 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. The company's revenue was down 2.3% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.75%. Chevron's payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $160.29.

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.

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