Chevron Corporation (NYSE:CVX) is Commonwealth Retirement Investments LLC's 6th Largest Position

Key Points

• Commonwealth Retirement Investments LLC increased its stake in Chevron Corporation by 43.4% in the first quarter, owning a total of 53,928 shares valued at approximately $9 million.
• Chevron recently reported $1.77 EPS for the quarter, exceeding analyst expectations, and its revenue was $44.82 billion, slightly above projections.
• The company declared a quarterly dividend of $1.71 per share, translating to an annualized dividend of $6.84 and a dividend yield of 4.5%.

Commonwealth Retirement Investments LLC grew its position in Chevron Corporation (NYSE:CVX - Free Report) by 43.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,928 shares of the oil and gas company's stock after acquiring an additional 16,320 shares during the period. Chevron comprises approximately 3.7% of Commonwealth Retirement Investments LLC's investment portfolio, making the stock its 6th biggest position. Commonwealth Retirement Investments LLC's holdings in Chevron were worth $9,022,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CVX. Harvest Fund Management Co. Ltd grew its position in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 122 shares in the last quarter. 10Elms LLP acquired a new position in shares of Chevron in the fourth quarter worth $29,000. Navigoe LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $33,000. IFS Advisors LLC grew its stake in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in Chevron in the 1st quarter valued at about $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVX. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. TD Cowen raised their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday. UBS Group lifted their target price on shares of Chevron from $177.00 to $186.00 and gave the company a "buy" rating in a report on Monday. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a report on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $164.11.

Chevron Stock Performance

Shares of Chevron stock traded down $0.22 during trading hours on Wednesday, reaching $152.82. The company had a trading volume of 7,838,780 shares, compared to its average volume of 12,566,086. The business has a fifty day simple moving average of $147.44 and a 200 day simple moving average of $148.68. 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 Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $266.89 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.29 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The company's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 earnings per share. On average, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron's payout ratio is presently 88.03%.

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.