Chevron Corporation (NYSE:CVX) Stake Increased by Allworth Financial LP

Allworth Financial LP grew its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 347,800 shares of the oil and gas company's stock after purchasing an additional 7,932 shares during the period. Allworth Financial LP's holdings in Chevron were worth $58,183,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Sage Capital Advisors llc lifted its stake in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after buying an additional 919 shares in the last quarter. CCG Wealth Management LLC grew its holdings in shares of Chevron by 2.3% during 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 buying an additional 145 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after purchasing an additional 675 shares during the period. Pines Wealth Management LLC lifted its position in Chevron by 3.3% during 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 buying an additional 253 shares during the period. Finally, Viking Fund Management LLC lifted its position in Chevron by 9.3% during 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 buying an additional 10,000 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CVX shares. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Scotiabank boosted their price objective on shares of Chevron from $143.00 to $160.00 and gave the company a "sector perform" rating in a research note on Friday. Piper Sandler upped their price objective on Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price objective (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Finally, Mizuho dropped 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. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $161.65.

Chevron Price Performance

CVX traded up $1.62 during trading on Friday, reaching $155.79. The stock had a trading volume of 4,760,753 shares, compared to its average volume of 8,338,190. The firm has a market capitalization of $272.06 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.59 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The stock has a 50 day moving average of $142.28 and a two-hundred day moving average of $148.33.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the business earned $2.93 earnings per share. The business's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 dividend yield of 4.39%. 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.