Brown Advisory Inc. Has $34.36 Million Position in Chevron Corporation (NYSE:CVX)

Brown Advisory Inc. decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 205,370 shares of the oil and gas company's stock after selling 3,752 shares during the quarter. Brown Advisory Inc.'s holdings in Chevron were worth $34,356,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Consolidated Capital Management LLC bought a new position in Chevron in the 1st quarter valued at $229,000. Ninety One UK Ltd acquired a new stake in shares of Chevron in the first quarter valued at $40,044,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Chevron by 10.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,489 shares of the oil and gas company's stock valued at $1,587,000 after buying an additional 887 shares during the last quarter. Alpha Cubed Investments LLC lifted its position in Chevron by 10.9% during the 1st quarter. Alpha Cubed Investments LLC now owns 86,391 shares of the oil and gas company's stock worth $14,452,000 after buying an additional 8,485 shares in the last quarter. Finally, Gibraltar Capital Management Inc. acquired a new position in Chevron during the 1st quarter worth about $305,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CVX shares. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Redburn Atlantic restated a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Mizuho decreased their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $161.65.

Chevron Trading Up 0.8%

NYSE:CVX traded up $1.21 during mid-day trading on Friday, hitting $155.38. The company had a trading volume of 8,332,244 shares, compared to its average volume of 8,352,057. 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market cap of $271.35 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.61 and a beta of 0.83. The business's fifty day moving average is $142.62 and its two-hundred day moving average is $148.41.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share 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 business 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 posted $2.93 EPS. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.40%. 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.