Capital Advisors Inc. OK Acquires 1,755 Shares of Chevron Corporation (NYSE:CVX)

Capital Advisors Inc. OK raised its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 569,258 shares of the oil and gas company's stock after acquiring an additional 1,755 shares during the quarter. Chevron makes up 1.9% of Capital Advisors Inc. OK's portfolio, making the stock its 11th biggest position. Capital Advisors Inc. OK's holdings in Chevron were worth $95,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Chevron in the 4th quarter worth about $3,017,750,000. GAMMA Investing LLC increased its holdings in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the period. Capital World Investors increased its holdings in shares of Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after acquiring an additional 1,440,808 shares during the period. Northern Trust Corp increased its holdings in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Chevron by 6.9% in the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock worth $2,176,579,000 after acquiring an additional 964,426 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.1%

Shares of CVX traded up $0.22 during midday trading on Wednesday, hitting $153.46. The stock had a trading volume of 4,724,275 shares, compared to its average volume of 8,309,226. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a 50-day simple moving average of $141.58 and a two-hundred day simple moving average of $148.22. The firm has a market cap of $268.00 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The business 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 firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.93 earnings per share. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Piper Sandler increased their price objective on shares of Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of "Hold" and an average target price of $160.65.

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.