Allworth Financial LP Grows Position in Chevron Corporation (NYSE:CVX)

Allworth Financial LP boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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.

Other hedge funds have also added to or reduced their stakes in the company. Eagle Capital Management LLC lifted its holdings in Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after buying an additional 242 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after buying an additional 2,641 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Chevron by 59.5% during the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock valued at $847,000 after acquiring an additional 2,182 shares in the last quarter. Inspire Advisors LLC lifted its stake in Chevron by 8.1% in the fourth quarter. Inspire Advisors LLC now owns 4,499 shares of the oil and gas company's stock worth $652,000 after acquiring an additional 338 shares during the period. Finally, Prosperity Financial Group Inc. boosted its holdings in Chevron by 6.2% in the fourth quarter. Prosperity Financial Group Inc. now owns 3,908 shares of the oil and gas company's stock valued at $566,000 after acquiring an additional 227 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of Chevron stock traded up $1.18 during trading on Thursday, hitting $154.20. 8,389,843 shares of the company's stock traded hands, compared to its average volume of 8,351,329. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market capitalization of $269.29 billion, a P/E ratio of 17.62, a PEG ratio of 2.59 and a beta of 0.83. The business has a 50-day simple moving average of $141.92 and a 200-day simple moving average of $148.25. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share 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 firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the previous year, the company earned $2.93 earnings per share. The firm's quarterly revenue was down 2.3% on a year-over-year basis. As a group, analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analyst Weigh In

Several brokerages have commented on CVX. 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 report on Tuesday, May 13th. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Redburn Atlantic restated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, Piper Sandler lifted their price target on Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $160.65.

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.