Chevron Co. (NYSE:CVX) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 32.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 175,813 shares of the oil and gas company's stock after purchasing an additional 43,538 shares during the quarter. Exchange Traded Concepts LLC's holdings in Chevron were worth $29,412,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Pinion Investment Advisors LLC raised its position in Chevron by 1.5% in the 1st quarter. Pinion Investment Advisors LLC now owns 5,662 shares of the oil and gas company's stock valued at $947,000 after purchasing an additional 85 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its stake in shares of Chevron by 4.5% during the first quarter. Cornell Pochily Investment Advisors Inc. now owns 13,594 shares of the oil and gas company's stock worth $2,274,000 after buying an additional 591 shares during the period. Prentice Wealth Management LLC raised its holdings in Chevron by 3.8% in the first quarter. Prentice Wealth Management LLC now owns 3,742 shares of the oil and gas company's stock valued at $626,000 after acquiring an additional 138 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its stake in Chevron by 4.7% in the first quarter. Foster Victor Wealth Advisors LLC now owns 68,678 shares of the oil and gas company's stock worth $11,489,000 after acquiring an additional 3,077 shares during the last quarter. Finally, Aries Wealth Management increased its position in shares of Chevron by 1.8% in the 1st quarter. Aries Wealth Management now owns 9,682 shares of the oil and gas company's stock valued at $1,620,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Down 0.9%

Chevron stock traded down $1.37 during midday trading on Monday, hitting $144.54. 4,566,106 shares of the stock were exchanged, compared to its average volume of 8,169,779. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a 50 day moving average price of $138.53 and a two-hundred day moving average price of $149.02. The firm has a market cap of $252.43 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.46 and a beta of 0.83. 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 issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.93 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.73%. Chevron's dividend payout ratio (DPR) is 78.17%.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. Piper Sandler cut their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. TD Cowen cut their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Finally, Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three 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, the stock presently has a consensus rating of "Hold" and an average target price 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.