Bearing Point Capital LLC Has $7.58 Million Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• Bearing Point Capital LLC increased its stake in Chevron Corporation by 4.4% in the first quarter, holding 45,296 shares valued at approximately $7.58 million, making Chevron its 13th largest holding.
• Chevron reported a quarterly earnings per share (EPS) of $2.18, exceeding estimates, though its revenue of $47.61 billion was below expectations of $49.05 billion.
• The company declared a quarterly dividend of $1.71 per share, resulting in an annualized dividend of $6.84 and a yield of 4.42%.

Bearing Point Capital LLC grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,296 shares of the oil and gas company's stock after buying an additional 1,906 shares during the quarter. Chevron comprises 1.6% of Bearing Point Capital LLC's holdings, making the stock its 13th biggest position. Bearing Point Capital LLC's holdings in Chevron were worth $7,578,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 10Elms LLP bought a new stake in shares of Chevron during the 4th quarter worth $29,000. IFS Advisors LLC grew its holdings 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 purchasing an additional 116 shares during the last quarter. Navigoe LLC bought a new stake in shares of Chevron in the 4th quarter worth about $33,000. Cloud Capital Management LLC bought a new stake in Chevron during the 1st quarter worth about $39,000. Finally, Cooksen Wealth LLC bought a new stake in Chevron during the 1st quarter worth about $43,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 1.1%

Shares of NYSE CVX traded down $1.77 during midday trading on Wednesday, reaching $155.26. The company's stock had a trading volume of 3,552,662 shares, compared to its average volume of 9,443,956. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $271.14 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.46 and a beta of 0.83. The stock has a 50 day simple moving average of $145.88 and a 200-day simple moving average of $148.89.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the company earned $2.93 earnings per share. The firm's revenue was down 2.3% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.41%. Chevron's dividend payout ratio (DPR) is 78.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CVX shares. Scotiabank reissued a "sector perform" rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Piper Sandler reissued an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company increased their price objective on shares of Chevron from $165.00 to $178.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $162.13.

Chevron Company 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.