Chicago Capital LLC Increases Stock Holdings in Chevron Corporation (NYSE:CVX)

Chicago Capital LLC increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 42.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,995 shares of the oil and gas company's stock after purchasing an additional 3,260 shares during the quarter. Chicago Capital LLC's holdings in Chevron were worth $1,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter worth about $25,000. Life Planning Partners Inc bought a new position in Chevron during the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the 4th quarter worth about $29,000. 10Elms LLP bought a new stake in Chevron in the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC lifted its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

CVX stock opened at $148.86 on Wednesday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The business has a 50-day moving average price of $138.78 and a 200 day moving average price of $148.91. The company has a market capitalization of $259.97 billion, a P/E ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the business posted $2.93 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Redburn Atlantic restated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $160.24.

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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