Consolidated Investment Group LLC Raises Stock Holdings in Chevron Corporation (NYSE:CVX)

Consolidated Investment Group LLC lifted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 12.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,780 shares of the oil and gas company's stock after purchasing an additional 3,080 shares during the quarter. Consolidated Investment Group LLC's holdings in Chevron were worth $4,644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. IMG Wealth Management Inc. acquired a new stake in Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the 4th quarter valued at $29,000. 10Elms LLP acquired a new stake in Chevron in the 4th quarter valued at $29,000. Fairway Wealth LLC grew its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Finally, IFS Advisors LLC grew its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. TD Cowen dropped their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Piper Sandler decreased their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Trading Down 1.8%

Shares of NYSE CVX traded down $2.63 during trading on Monday, hitting $146.92. 10,493,844 shares of the company were exchanged, compared to its average volume of 8,240,474. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a fifty day moving average price of $139.37 and a 200-day moving average price of $148.58. The firm has a market capitalization of $256.58 billion, a PE ratio of 16.79, a P/E/G ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron's revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.93 EPS. As a group, equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.66%. Chevron's dividend payout ratio (DPR) is currently 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.