Donaldson Capital Management LLC Has $42.67 Million Stake in Chevron Co. (NYSE:CVX)

Donaldson Capital Management LLC increased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,045 shares of the oil and gas company's stock after buying an additional 4,172 shares during the quarter. Chevron comprises 1.6% of Donaldson Capital Management LLC's portfolio, making the stock its 29th largest holding. Donaldson Capital Management LLC's holdings in Chevron were worth $42,667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Life Planning Partners Inc bought a new position in Chevron during the 4th quarter valued at $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the 4th quarter valued at $29,000. 10Elms LLP bought a new position in Chevron during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC boosted its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.1%

Shares of NYSE:CVX traded up $0.12 during midday trading on Thursday, hitting $144.90. 6,989,778 shares of the stock were exchanged, compared to its average volume of 8,142,652. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The business's fifty day simple moving average is $138.35 and its two-hundred day simple moving average is $149.32. The company has a market capitalization of $253.05 billion, a PE ratio of 14.91, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company earned $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVX. TD Cowen cut their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Company 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.