American Investment Services Inc. Has $5.16 Million Position in Chevron Co. (NYSE:CVX)

American Investment Services Inc. lifted its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 46.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,632 shares of the oil and gas company's stock after purchasing an additional 11,222 shares during the period. American Investment Services Inc.'s holdings in Chevron were worth $5,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Allianz SE bought a new position in Chevron during the 4th quarter worth $9,369,000. Nicholas Company Inc. increased its stake in Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after acquiring an additional 3,280 shares during the period. Applied Finance Capital Management LLC increased its stake in Chevron by 1.6% during the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after acquiring an additional 2,755 shares during the period. Cerity Partners LLC increased its stake in Chevron by 4.5% during the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock worth $174,817,000 after acquiring an additional 52,307 shares during the period. Finally, Wedbush Securities Inc. increased its stake in Chevron by 6.8% during the 4th quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company's stock worth $17,101,000 after acquiring an additional 7,557 shares during the period. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVX shares. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, TD Cowen decreased their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Price Performance

Shares of NYSE CVX traded down $1.78 during mid-day trading on Wednesday, hitting $136.05. 6,859,635 shares of the stock traded hands, compared to its average volume of 8,082,541. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market cap of $237.60 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm has a 50 day simple moving average of $143.58 and a two-hundred day simple moving average of $150.94.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the business posted $2.93 EPS. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 5.03%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is presently 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.