Chevron Corporation (NYSE:CVX) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 27.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,329 shares of the oil and gas company's stock after buying an additional 6,928 shares during the period. GAMMA Investing LLC's holdings in Chevron were worth $5,408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after acquiring an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 valued at $4,613,960,000 after buying an additional 746,806 shares during the last quarter. Norges Bank acquired a new position in shares of Chevron during the fourth quarter worth about $3,017,750,000. Northern Trust Corp raised its stake in shares of Chevron by 7.3% during 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 in the last quarter. Finally, Fisher Asset Management LLC raised its position in Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after acquiring an additional 410,460 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. 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. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus price target of $160.29.

Chevron Stock Performance

Shares of CVX opened at $143.87 on Friday. The firm has a market cap of $251.26 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.54 and a beta of 0.83. The business's 50 day moving average is $140.20 and its two-hundred day moving average is $148.27. 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 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm earned $2.93 EPS. The business's revenue was down 2.3% on a year-over-year basis. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is 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.

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