Capital Investment Advisors LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

Capital Investment Advisors LLC boosted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 319,968 shares of the oil and gas company's stock after purchasing an additional 20,275 shares during the period. Chevron comprises 1.0% of Capital Investment Advisors LLC's holdings, making the stock its 27th largest position. Capital Investment Advisors LLC's holdings in Chevron were worth $53,527,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. IMG Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP purchased a new position in shares of Chevron during the 4th quarter valued at $29,000. Fairway Wealth LLC grew 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 worth $30,000 after buying an additional 88 shares in the last quarter. Finally, IFS Advisors LLC increased its position in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVX shares. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Piper Sandler dropped their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. HSBC lowered Chevron from a "buy" rating to a "hold" rating and cut their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Mizuho decreased their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Trading Up 2.4%

NYSE:CVX traded up $3.31 during midday trading on Friday, reaching $140.21. 6,555,988 shares of the stock traded hands, compared to its average volume of 8,131,049. The stock has a market capitalization of $244.86 billion, a P/E ratio of 14.42, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a fifty day moving average of $138.98 and a 200 day moving average of $149.73.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.93 earnings per share. On average, research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) 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.