Chevron Corporation (NYSE:CVX) Shares Purchased by Carnegie Investment Counsel

Carnegie Investment Counsel boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 131,307 shares of the oil and gas company's stock after buying an additional 2,192 shares during the quarter. Carnegie Investment Counsel's holdings in Chevron were worth $21,966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in Chevron in the 4th quarter worth approximately $3,017,750,000. GAMMA Investing LLC lifted its position in Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after buying an additional 5,382,847 shares during the last quarter. Capital World Investors lifted its position in Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after buying an additional 1,440,808 shares during the last quarter. Northern Trust Corp lifted its position in 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 worth $2,965,135,000 after buying an additional 1,394,091 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Chevron by 6.9% in the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock worth $2,176,579,000 after buying an additional 964,426 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Barclays reissued an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Mizuho lowered 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. TD Cowen lowered 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, HSBC lowered Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $162.13.

Chevron Stock Performance

Shares of Chevron stock traded down $1.00 on Friday, hitting $154.84. The stock had a trading volume of 7,872,671 shares, compared to its average volume of 12,051,790. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. 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 market cap of $270.40 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 2.44 and a beta of 0.83. The company's 50 day moving average price is $145.12 and its 200 day moving average price is $148.82.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.93 EPS. On average, research analysts anticipate 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. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

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.