OLD Republic International Corp Buys 3,000 Shares of Chevron Corporation (NYSE:CVX)

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

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at $3,017,750,000. GAMMA Investing LLC grew its holdings in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after purchasing an additional 5,382,847 shares during the last quarter. Capital World Investors grew its holdings in shares of Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after purchasing an additional 1,394,091 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Chevron by 6.9% in the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock worth $2,176,579,000 after purchasing an additional 964,426 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Mizuho lowered their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. 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 company's stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average price target of $160.65.

Chevron Trading Up 3.8%

Chevron stock traded up $5.64 during trading hours on Tuesday, reaching $153.04. 14,057,452 shares of the company's stock traded hands, compared to its average volume of 8,322,629. 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 Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $267.27 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.51 and a beta of 0.83. The firm's 50 day moving average is $141.31 and its 200-day moving average is $148.18.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the company posted $2.93 EPS. The company's revenue was down 2.3% compared to the same quarter last year. On average, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. Chevron's payout ratio 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.