Chevron Corporation (NYSE:CVX) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC raised its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,245,218 shares of the oil and gas company's stock after purchasing an additional 39,471 shares during the period. Cerity Partners LLC owned 0.07% of Chevron worth $208,313,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CVX. IMG Wealth Management Inc. acquired a new position in Chevron in the 4th quarter valued at $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the fourth quarter worth about $29,000. 10Elms LLP purchased a new position in shares of Chevron in the fourth quarter worth about $29,000. Finally, Navigoe LLC acquired a new position in Chevron during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Up 0.8%

Chevron stock traded up $1.21 during midday trading on Friday, reaching $155.38. The company's stock had a trading volume of 8,332,244 shares, compared to its average volume of 8,352,057. The company 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 company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $142.28 and a 200-day simple moving average of $148.33. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.93 EPS. On average, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. Chevron's dividend payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVX. TD Cowen decreased 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. Barclays lifted their price objective on Chevron from $152.00 to $156.00 and gave the stock an "equal weight" rating in a research report on Monday. Piper Sandler upped their target price on Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Scotiabank raised their target price on Chevron from $143.00 to $160.00 and gave the stock a "sector perform" rating in a research note on Friday. Finally, Mizuho lowered their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $161.65.

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.