Jericho Financial LLP Buys 2,743 Shares of Chevron Corporation (NYSE:CVX)

Jericho Financial LLP lifted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 9.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,544 shares of the oil and gas company's stock after purchasing an additional 2,743 shares during the quarter. Chevron accounts for 3.7% of Jericho Financial LLP's portfolio, making the stock its 10th largest position. Jericho Financial LLP's holdings in Chevron were worth $5,110,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CVX. Sage Capital Advisors llc raised its position in Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after acquiring an additional 919 shares in the last quarter. CCG Wealth Management LLC grew its stake in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after acquiring an additional 145 shares during the last quarter. Pines Wealth Management LLC grew its stake in shares of Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock worth $1,306,000 after acquiring an additional 253 shares during the last quarter. Viking Fund Management LLC grew its stake in shares of Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock worth $19,573,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Allianz SE acquired a new stake in shares of Chevron in the fourth quarter worth $9,369,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company lowered their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Redburn Atlantic restated a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, TD Cowen lowered their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Price Performance

Shares of NYSE CVX traded down $2.63 during midday trading on Monday, reaching $146.92. 10,493,844 shares of the company traded hands, compared to its average volume of 8,240,481. The firm has a market cap of $256.58 billion, a PE ratio of 16.79, a PEG ratio of 2.63 and a beta of 0.83. The stock's 50-day simple moving average is $139.60 and its 200-day simple moving average is $148.52. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

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

Chevron Dividend Announcement

The business also recently disclosed 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 4.66%. Chevron's 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.