Paragon Capital Management Ltd Grows Stake in Chevron Co. (NYSE:CVX)

Paragon Capital Management Ltd raised its position in Chevron Co. (NYSE:CVX - Free Report) by 81.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,615 shares of the oil and gas company's stock after purchasing an additional 2,072 shares during the quarter. Paragon Capital Management Ltd's holdings in Chevron were worth $772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Norges Bank purchased a new stake in Chevron in the 4th quarter worth about $3,017,750,000. Raymond James Financial Inc. purchased a new stake in Chevron in the 4th quarter worth about $1,036,302,000. GAMMA Investing LLC raised its position in 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 purchasing an additional 5,382,847 shares during the period. Bank of New York Mellon Corp raised its position in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Finally, Amundi increased its position in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after acquiring an additional 1,910,262 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.5%

CVX stock traded up $0.77 during trading on Friday, hitting $145.74. 14,126,704 shares of the company's stock traded hands, compared to its average volume of 8,174,571. The firm has a market capitalization of $254.52 billion, a P/E ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83. The business has a fifty day simple moving average of $138.35 and a two-hundred day simple moving average of $149.32. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the company earned $2.93 earnings per share. The business's revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.69%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and reduced their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Chevron has an average rating of "Hold" and a consensus price target of $160.24.

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.