Chevron Corporation (NYSE:CVX) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its position in Chevron Corporation (NYSE:CVX - Free Report) by 10.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,431 shares of the oil and gas company's stock after acquiring an additional 3,095 shares during the period. Verdence Capital Advisors LLC's holdings in Chevron were worth $5,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after acquiring an additional 392,916 shares during the last quarter. Norges Bank purchased a new position in shares of Chevron during the 4th quarter valued at about $3,017,750,000. Northern Trust Corp lifted 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 valued at $2,965,135,000 after buying an additional 1,394,091 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Chevron by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after buying an additional 79,917 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after buying an additional 211,023 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of NYSE:CVX traded down $1.59 during trading on Friday, reaching $149.79. 45,762,307 shares of the company's stock traded hands, compared to its average volume of 8,533,059. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a market cap of $261.59 billion, a PE ratio of 17.12, a P/E/G ratio of 2.45 and a beta of 0.83. The company has a 50-day simple moving average of $143.81 and a 200-day simple moving average of $148.61.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company 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 firm posted $2.93 EPS. Chevron's revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is 78.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVX shares. Barclays reissued an "equal weight" rating on shares of Chevron in a report on Tuesday. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. Mizuho decreased their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, HSBC cut Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus price target of $161.31.

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.