Chevron Corporation (NYSE:CVX) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. increased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,842 shares of the oil and gas company's stock after purchasing an additional 2,491 shares during the quarter. Blue Trust Inc.'s holdings in Chevron were worth $7,167,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Chevron by 1.1% during 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 buying an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after acquiring an additional 746,806 shares in the last quarter. Norges Bank acquired a new position in Chevron during the fourth quarter worth $3,017,750,000. Northern Trust Corp lifted its holdings in Chevron by 7.3% during the fourth 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 purchasing an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after purchasing an additional 410,460 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CVX shares. UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. 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. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Redburn Atlantic reissued a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Down 0.4%

Shares of CVX opened at $148.18 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-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 stock has a fifty day simple moving average of $139.09 and a two-hundred day simple moving average of $148.81. The company has a market capitalization of $258.78 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.60 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the firm posted $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued 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 4.62%. Chevron's dividend payout ratio is currently 78.17%.

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.

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