Blair William & Co. IL Has $109.81 Million Stock Position in Chevron Corporation (NYSE:CVX)

Key Points

• Blair William & Co. IL increased its holdings in Chevron Corporation by 0.8%, owning 656,428 shares worth approximately $109.8 million after acquiring 5,014 additional shares in Q1.
• Chevron's recent earnings report showed $1.77 earnings per share for the quarter, exceeding estimates, despite a 12.4% year-over-year decline in revenue.
• Analysts have mixed views on Chevron, with a consensus rating of "Hold" and a target price averaging $163.18, amidst various upgrade and downgrade adjustments from different brokerages.

Blair William & Co. IL grew its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 656,428 shares of the oil and gas company's stock after purchasing an additional 5,014 shares during the quarter. Blair William & Co. IL's holdings in Chevron were worth $109,814,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd increased its stake in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the period. 10Elms LLP purchased a new stake in Chevron during the 4th quarter worth approximately $29,000. Navigoe LLC acquired a new position in shares of Chevron in the 4th quarter valued at approximately $33,000. IFS Advisors LLC boosted its stake in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Chevron in the first quarter worth $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

Shares of NYSE:CVX traded down $0.22 on Wednesday, reaching $152.82. 7,838,328 shares of the company traded hands, compared to its average volume of 9,485,026. The company's 50 day moving average is $147.44 and its 200-day moving average is $148.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market capitalization of $266.89 billion, a PE ratio of 19.67, a P/E/G ratio of 2.30 and a beta of 0.87. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. Chevron's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.55 EPS. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group reissued a "buy" rating and set a $186.00 price objective (up from $177.00) on shares of Chevron in a report on Monday. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a report on Friday, July 18th. HSBC cut Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Piper Sandler restated an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Mizuho dropped their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $164.11.

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.