ACR Alpine Capital Research LLC Grows Stock Holdings in Chevron Corporation (NYSE:CVX)

ACR Alpine Capital Research LLC lifted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,193,567 shares of the oil and gas company's stock after acquiring an additional 34,171 shares during the period. Chevron makes up about 7.7% of ACR Alpine Capital Research LLC's portfolio, making the stock its 6th largest holding. ACR Alpine Capital Research LLC owned approximately 0.12% of Chevron worth $366,962,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eagle Capital Management LLC lifted its stake in Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after purchasing an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after purchasing an additional 2,641 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in Chevron by 10.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 138,787 shares of the oil and gas company's stock valued at $20,102,000 after purchasing an additional 13,141 shares during the last quarter. Ashton Thomas Securities LLC lifted its stake in Chevron by 12.9% in the 4th quarter. Ashton Thomas Securities LLC now owns 3,387 shares of the oil and gas company's stock valued at $492,000 after purchasing an additional 386 shares during the last quarter. Finally, PKS Advisory Services LLC bought a new position in Chevron in the 4th quarter valued at approximately $327,000. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research note on Friday, July 18th. TD Cowen decreased their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Wells Fargo & Company upped their price target on shares of Chevron from $165.00 to $178.00 and gave the company an "overweight" rating in a research report on Wednesday. Redburn Atlantic restated a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $162.13.

Chevron Stock Up 1.8%

NYSE:CVX traded up $2.70 during trading hours on Thursday, reaching $155.82. The company had a trading volume of 15,690,214 shares, compared to its average volume of 11,637,524. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a market cap of $272.12 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.54 and a beta of 0.83. The business's 50-day simple moving average is $144.87 and its two-hundred day simple moving average is $148.79. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $2.93 earnings per share. On average, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is 78.17%.

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.