Concurrent Investment Advisors LLC Has $18.77 Million Stake in Chevron Corporation (NYSE:CVX)

Concurrent Investment Advisors LLC raised its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 33.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,189 shares of the oil and gas company's stock after purchasing an additional 28,213 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Chevron were worth $18,768,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Chevron by 1.1% during 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 in the last quarter. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter valued at $3,017,750,000. Northern Trust Corp boosted its holdings 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 valued at $2,965,135,000 after acquiring an additional 1,394,091 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after acquiring an additional 79,917 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Chevron by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after acquiring an additional 211,023 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 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. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of "Hold" and an average price target of $160.41.

Chevron Stock Up 0.2%

NYSE CVX traded up $0.25 on Friday, hitting $148.23. 5,173,309 shares of the company were exchanged, compared to its average volume of 8,281,546. Chevron Corporation has a 12 month low of $132.04 and a 12 month 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 company has a market cap of $258.86 billion, a PE ratio of 15.95, a PEG ratio of 2.51 and a beta of 0.83. The stock has a fifty day moving average of $141.16 and a 200-day moving average of $148.07.

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, beating 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 the consensus estimate of $49.05 billion. During the same period last year, the business posted $2.93 EPS. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.61%. Chevron's dividend payout ratio is 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.