Agate Pass Investment Management LLC Has $2.01 Million Holdings in Chevron Co. (NYSE:CVX)

Agate Pass Investment Management LLC grew its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 54.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,023 shares of the oil and gas company's stock after purchasing an additional 4,262 shares during the quarter. Agate Pass Investment Management LLC's holdings in Chevron were worth $2,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Life Planning Partners Inc bought a new stake in Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new stake in Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the 4th quarter valued at $29,000. 10Elms LLP acquired a new stake in Chevron during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC boosted its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

NYSE:CVX traded down $1.48 on Friday, hitting $136.43. The company had a trading volume of 12,856,437 shares, compared to its average volume of 8,115,075. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $238.26 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.46 and a beta of 0.83. The firm has a 50 day moving average of $141.88 and a two-hundred day moving average of $150.57.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $2.93 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is 78.17%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CVX shares. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Piper Sandler cut their price objective on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.