Chevron Co. (NYSE:CVX) is Welch Group LLC's 10th Largest Position

Welch Group LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 410,177 shares of the oil and gas company's stock after buying an additional 15,885 shares during the period. Chevron comprises 3.0% of Welch Group LLC's investment portfolio, making the stock its 10th biggest holding. Welch Group LLC's holdings in Chevron were worth $68,126,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Sage Capital Advisors llc increased its holdings in shares of Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares in the last quarter. Allianz SE purchased a new position in Chevron in the fourth quarter valued at about $9,369,000. Nicholas Company Inc. increased its holdings in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after buying an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC increased its holdings in Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock valued at $26,044,000 after buying an additional 2,755 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Chevron by 4.5% in the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock valued at $174,817,000 after buying an additional 52,307 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Down 1.1%

CVX stock traded down $1.48 during midday trading on Friday, hitting $136.43. The stock had a trading volume of 12,856,437 shares, compared to its average volume of 8,115,079. The firm has a market cap of $238.26 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company's 50-day moving average price is $141.88 and its 200 day moving average price is $150.57.

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

Chevron Dividend Announcement

The firm also recently declared 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 5.01%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVX. Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Piper Sandler dropped their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Finally, Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus target price of $160.24.

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.