Brookwood Investment Group LLC Takes $1.47 Million Position in Chevron Corporation (NYSE:CVX)

Brookwood Investment Group LLC acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,788 shares of the oil and gas company's stock, valued at approximately $1,470,000.

Other hedge funds also recently made changes to their positions in the company. Eagle Capital Management LLC boosted its stake in shares of Chevron by 0.7% in the 4th 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 in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings 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 purchasing an additional 2,641 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in Chevron by 10.5% in the fourth quarter. Segall Bryant & Hamill LLC now owns 138,787 shares of the oil and gas company's stock valued at $20,102,000 after buying an additional 13,141 shares in the last quarter. Ashton Thomas Securities LLC grew its stake in Chevron by 12.9% during the fourth quarter. Ashton Thomas Securities LLC now owns 3,387 shares of the oil and gas company's stock worth $492,000 after buying an additional 386 shares during the last quarter. Finally, PKS Advisory Services LLC bought a new stake in Chevron during the fourth quarter worth about $327,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVX. Piper Sandler restated an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Scotiabank reiterated a "sector perform" rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. Finally, Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $162.13.

Chevron Trading Down 0.6%

CVX stock traded down $1.00 during trading on Friday, hitting $154.84. 7,872,671 shares of the company traded hands, compared to its average volume of 12,051,790. The company has a 50-day moving average of $145.12 and a 200-day moving average of $148.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization of $270.40 billion, a PE ratio of 17.70, a P/E/G ratio of 2.44 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released 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. The firm had revenue of $47.61 billion for 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 company's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.93 earnings per share. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio 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.