Bessemer Group Inc. Purchases 84,786 Shares of Chevron Corporation (NYSE:CVX)

Bessemer Group Inc. increased its position in Chevron Corporation (NYSE:CVX - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,062,544 shares of the oil and gas company's stock after purchasing an additional 84,786 shares during the period. Chevron accounts for 0.9% of Bessemer Group Inc.'s portfolio, making the stock its 22nd biggest position. Bessemer Group Inc. owned approximately 0.17% of Chevron worth $512,334,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Eagle Capital Management LLC lifted its holdings in shares of Chevron by 0.7% during the fourth 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 increased its position in Chevron by 7.9% during 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 buying an additional 2,641 shares in the last quarter. Pinnacle West Asset Management Inc. raised its stake in Chevron by 3.9% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 15,230 shares of the oil and gas company's stock valued at $2,206,000 after buying an additional 575 shares during the last quarter. Sprott Inc. bought a new stake in Chevron in the fourth quarter worth $432,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in Chevron in the fourth quarter worth $46,000. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. HSBC cut Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $160.29.

Chevron Price Performance

Shares of Chevron stock traded down $0.57 during trading hours on Friday, hitting $143.87. The company's stock had a trading volume of 9,207,479 shares, compared to its average volume of 8,266,856. The company has a market cap of $251.26 billion, a PE ratio of 16.44, a PEG ratio of 2.54 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The business has a 50 day moving average price of $140.08 and a two-hundred day moving average price of $148.37. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. 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 company earned $2.93 EPS. The firm's quarterly revenue was down 2.3% on a year-over-year basis. Analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 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.