Bridgewater Advisors Inc. Buys New Shares in Chevron Corporation (NYSE:CVX)

Bridgewater Advisors Inc. bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,085 shares of the oil and gas company's stock, valued at approximately $1,185,000.

Other hedge funds also recently bought and sold shares of the company. Berkeley Capital Partners LLC boosted its stake in Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after acquiring an additional 67 shares during the last quarter. CoreCap Advisors LLC boosted its stake in Chevron by 0.3% in the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after acquiring an additional 71 shares during the last quarter. Clayton Financial Group LLC boosted its stake in Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after acquiring an additional 75 shares during the last quarter. Requisite Capital Management LLC boosted its stake in Chevron by 1.2% in the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after acquiring an additional 77 shares during the last quarter. Finally, Silverlake Wealth Management LLC raised its position in shares of Chevron by 0.7% in the 1st quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company's stock valued at $1,828,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and cut their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Mizuho cut their price target 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. Finally, UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of "Hold" and an average price target of $161.65.

Chevron Stock Up 1.1%

Shares of CVX traded up $1.63 during mid-day trading on Thursday, hitting $151.55. 8,358,643 shares of the company's stock were exchanged, compared to its average volume of 8,379,753. The company has a market cap of $264.66 billion, a PE ratio of 17.32, a P/E/G ratio of 2.56 and a beta of 0.83. Chevron Corporation 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 $143.53 and a 200 day simple moving average of $148.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the business earned $2.93 EPS. On average, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.51%. Chevron's dividend payout ratio is currently 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.