Azzad Asset Management Inc. ADV Makes New Investment in Chevron Co. (NYSE:CVX)

Azzad Asset Management Inc. ADV purchased a new position in Chevron Co. (NYSE:CVX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 29,964 shares of the oil and gas company's stock, valued at approximately $5,013,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the fourth quarter worth $29,000. 10Elms LLP purchased a new stake in Chevron during the fourth quarter valued at $29,000. Fairway Wealth LLC lifted 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 valued at $30,000 after purchasing an additional 88 shares during the last quarter. Finally, IFS Advisors LLC grew its stake in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Mizuho decreased their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Wells Fargo & Company cut their target price on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, DZ Bank lowered 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. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Trading Up 0.1%

CVX stock traded up $0.16 during trading on Monday, hitting $146.07. The company had a trading volume of 10,078,133 shares, compared to its average volume of 8,190,368. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a 50 day simple moving average of $138.72 and a 200-day simple moving average of $148.91. The firm has a market capitalization of $255.09 billion, a P/E ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last issued its 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. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the firm earned $2.93 EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.68%. Chevron's payout ratio is currently 78.17%.

Chevron Profile

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.