Chevron Corporation (NYSE:CVX) Shares Acquired by OLD Republic International Corp

OLD Republic International Corp increased its position in Chevron Corporation (NYSE:CVX - Free Report) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 486,300 shares of the oil and gas company's stock after buying an additional 3,000 shares during the period. Chevron comprises 3.2% of OLD Republic International Corp's portfolio, making the stock its 3rd largest holding. OLD Republic International Corp's holdings in Chevron were worth $81,353,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CVX. Norges Bank purchased a new stake in Chevron in the fourth quarter valued at approximately $3,017,750,000. GAMMA Investing LLC grew its holdings in Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after purchasing an additional 5,382,847 shares during the period. Capital World Investors grew its holdings in Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after purchasing an additional 1,440,808 shares during the period. Northern Trust Corp grew its holdings in Chevron by 7.3% in the fourth 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 purchasing an additional 1,394,091 shares during the period. Finally, Invesco Ltd. grew its holdings in Chevron by 6.9% in the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock valued at $2,176,579,000 after purchasing an additional 964,426 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Mizuho decreased their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, TD Cowen decreased their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. 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 company's stock. According to data from MarketBeat, Chevron presently has a consensus rating of "Hold" and an average price target of $160.41.

Chevron Trading Up 0.2%

NYSE CVX opened at $148.23 on Monday. The company's fifty day simple moving average is $141.16 and its 200-day simple moving average is $148.15. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. 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 stock has a market cap of $258.86 billion, a P/E ratio of 16.94, a PEG ratio of 2.51 and a beta of 0.83.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.61%. 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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.