Chevron Corporation (NYSE:CVX) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 591,096 shares of the oil and gas company's stock after buying an additional 20,978 shares during the period. Chevron comprises 1.0% of Sumitomo Mitsui DS Asset Management Company Ltd's investment portfolio, making the stock its 16th largest position. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Chevron were worth $98,884,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Berkeley Capital Partners LLC raised its position in shares of Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after acquiring an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its stake in Chevron by 6.1% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock valued at $171,000 after purchasing an additional 68 shares during the last quarter. CoreCap Advisors LLC increased its stake in Chevron by 0.3% in the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after purchasing an additional 71 shares during the last quarter. Fairscale Capital LLC raised its holdings in Chevron by 11.5% during the fourth quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company's stock worth $102,000 after purchasing an additional 73 shares in the last quarter. Finally, Austin Wealth Management LLC lifted its position in shares of Chevron by 3.2% during the 4th quarter. Austin Wealth Management LLC now owns 2,364 shares of the oil and gas company's stock worth $342,000 after buying an additional 74 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

CVX has been the subject of a number of research analyst reports. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of "Hold" and an average target price of $160.41.

Chevron Trading Up 1.6%

NYSE:CVX traded up $2.34 on Wednesday, hitting $147.91. 8,227,091 shares of the stock were exchanged, compared to its average volume of 8,265,387. The stock has a fifty day moving average of $140.56 and a 200-day moving average of $148.08. The stock has a market cap of $258.31 billion, a PE ratio of 16.90, a PEG ratio of 2.48 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $49.05 billion. During the same quarter in the prior year, the company earned $2.93 EPS. The company's revenue was down 2.3% on a year-over-year basis. As a group, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is presently 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.