Smithbridge Asset Management Inc. DE Buys Shares of 5,753 Chevron Co. (NYSE:CVX)

Smithbridge Asset Management Inc. DE bought a new position in Chevron Co. (NYSE:CVX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,753 shares of the oil and gas company's stock, valued at approximately $962,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. IMG Wealth Management Inc. purchased a new position in Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the fourth quarter worth $29,000. 10Elms LLP bought a new stake in Chevron in the 4th quarter valued at $29,000. Fairway Wealth LLC lifted its position in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares in the last quarter. Finally, IFS Advisors LLC lifted its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Up 0.5%

CVX stock traded up $0.77 during mid-day trading on Friday, hitting $145.74. 14,126,704 shares of the company were exchanged, compared to its average volume of 8,174,571. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $254.52 billion, a P/E ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83. The business has a fifty day simple moving average of $138.35 and a 200-day simple moving average of $149.32. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the firm earned $2.93 earnings per share. The firm's quarterly revenue was down 2.3% on a year-over-year basis. On average, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.69%. Chevron's dividend payout ratio is presently 78.17%.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. TD Cowen decreased their target price on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and dropped their target price for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $160.24.

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.