Oppenheimer Asset Management Inc. Has $118.89 Million Stake in Chevron Corporation (NYSE:CVX)

Oppenheimer Asset Management Inc. boosted its position in Chevron Corporation (NYSE:CVX - Free Report) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 710,706 shares of the oil and gas company's stock after purchasing an additional 25,677 shares during the quarter. Chevron makes up 1.5% of Oppenheimer Asset Management Inc.'s portfolio, making the stock its 6th biggest position. Oppenheimer Asset Management Inc.'s holdings in Chevron were worth $118,894,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after buying an additional 66 shares during the last quarter. Berkeley Capital Partners LLC lifted its position in Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after buying an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its position in Chevron by 6.1% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock valued at $171,000 after buying an additional 68 shares during the last quarter. Acorn Wealth Advisors LLC lifted its position in Chevron by 3.4% in the fourth quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company's stock valued at $303,000 after buying an additional 69 shares during the last quarter. Finally, Wealthstream Advisors Inc. lifted its position in Chevron by 4.4% in the fourth quarter. Wealthstream Advisors Inc. now owns 1,664 shares of the oil and gas company's stock valued at $241,000 after buying an additional 70 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CVX shares. Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Trading Down 2.2%

CVX traded down $3.20 during midday trading on Tuesday, hitting $143.67. The company's stock had a trading volume of 10,765,235 shares, compared to its average volume of 8,251,705. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market cap of $250.90 billion, a P/E ratio of 16.42, a PEG ratio of 2.58 and a beta of 0.83. The firm has a 50-day moving average price of $139.78 and a two-hundred day moving average price of $148.49. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.93 EPS. On average, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 4.76%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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.