Ballentine Partners LLC Has $6.09 Million Stake in Chevron Corporation (NYSE:CVX)

Ballentine Partners LLC increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,398 shares of the oil and gas company's stock after purchasing an additional 2,497 shares during the period. Ballentine Partners LLC's holdings in Chevron were worth $6,089,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Eagle Capital Management LLC grew its stake in Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after acquiring an additional 242 shares during the period. Bank Pictet & Cie Europe AG boosted its position 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 worth $5,212,000 after buying an additional 2,641 shares during the period. Proficio Capital Partners LLC boosted its position 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 worth $847,000 after buying an additional 2,182 shares during the period. Atala Financial Inc acquired a new position in shares of Chevron during the fourth quarter worth about $325,000. Finally, King Wealth Management Group boosted its position in shares of Chevron by 22.5% during the fourth quarter. King Wealth Management Group now owns 13,574 shares of the oil and gas company's stock worth $1,966,000 after buying an additional 2,494 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE:CVX traded up $1.21 on Friday, hitting $155.38. The company's stock had a trading volume of 8,332,244 shares, compared to its average volume of 8,352,057. 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 fifty day moving average of $142.62 and a two-hundred day moving average of $148.41. The firm has a market capitalization of $271.35 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one 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 (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.93 earnings per share. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron's dividend payout ratio is 78.17%.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Piper Sandler upped their price objective on Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 target price (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Three 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. According to MarketBeat.com, Chevron currently has a consensus rating of "Hold" and a consensus target price of $161.65.

Chevron Company 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.