Calamos Advisors LLC Has $78.62 Million Position in Chevron Corporation (NYSE:CVX)

Calamos Advisors LLC lifted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 469,984 shares of the oil and gas company's stock after purchasing an additional 4,557 shares during the quarter. Calamos Advisors LLC's holdings in Chevron were worth $78,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter worth approximately $25,000. Life Planning Partners Inc bought a new position in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC raised its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE CVX traded up $0.25 during mid-day trading on Friday, hitting $148.23. The company had a trading volume of 5,173,309 shares, compared to its average volume of 8,281,546. 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 business's 50-day simple moving average is $141.16 and its 200-day simple moving average is $148.10. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market cap of $258.86 billion, a P/E ratio of 16.94, a PEG ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping 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 firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the company earned $2.93 earnings per share. The business's revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict 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. Shareholders 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 dividend on an annualized basis and a yield of 4.61%. Chevron's dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

Several brokerages have commented on CVX. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price target (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $160.41.

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.