Brown Miller Wealth Management LLC Raises Stake in Chevron Co. (NYSE:CVX)

Brown Miller Wealth Management LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 24.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,754 shares of the oil and gas company's stock after purchasing an additional 3,098 shares during the period. Brown Miller Wealth Management LLC's holdings in Chevron were worth $2,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after purchasing an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after acquiring an additional 746,806 shares in the last quarter. Norges Bank bought a new position in shares of Chevron in the 4th quarter worth about $3,017,750,000. Northern Trust Corp lifted its position in Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after acquiring an additional 410,460 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of analyst reports. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating for the company 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 on the stock in a report on Tuesday, May 13th. Redburn Atlantic restated a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Performance

Shares of Chevron stock traded up $0.16 during trading on Monday, hitting $146.07. 10,078,133 shares of the company's stock were exchanged, compared to its average volume of 8,190,263. The stock has a market capitalization of $255.09 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83. The business has a 50-day simple moving average of $138.53 and a 200-day simple moving average of $149.02. Chevron Co. has a 52-week low of $132.04 and a 52-week 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.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 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 for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the firm posted $2.93 EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

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.