CORDA Investment Management LLC. Has $2.59 Million Stock Position in Chevron Corporation (NYSE:CVX)

CORDA Investment Management LLC. increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,470 shares of the oil and gas company's stock after purchasing an additional 1,664 shares during the quarter. CORDA Investment Management LLC.'s holdings in Chevron were worth $2,588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after acquiring an additional 392,916 shares during the last quarter. Norges Bank bought a new position in shares of Chevron in the fourth quarter worth about $3,017,750,000. Northern Trust Corp lifted its holdings in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Chevron by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock worth $2,502,850,000 after acquiring an additional 79,917 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Chevron by 1.3% in the fourth quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock worth $2,421,564,000 after acquiring an additional 211,023 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CVX shares. BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Piper Sandler raised their price objective on shares of Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Mizuho dropped their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Finally, HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of "Hold" and a consensus price target of $161.65.

Chevron Trading Up 0.8%

CVX stock traded up $1.21 during midday trading on Friday, hitting $155.38. The stock had a trading volume of 8,332,244 shares, compared to its average volume of 8,359,711. The firm has a market cap of $271.35 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.63 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 1-year low of $132.04 and a 1-year high of $168.96. The business has a fifty day moving average price of $142.62 and a two-hundred day moving average price of $148.44.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business 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 4.40%. Chevron's dividend payout ratio is currently 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.