Cornercap Investment Counsel Inc. Purchases 5,275 Shares of Chevron Corporation (NYSE:CVX)

Cornercap Investment Counsel Inc. lifted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 62.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,750 shares of the oil and gas company's stock after purchasing an additional 5,275 shares during the period. Chevron accounts for 1.2% of Cornercap Investment Counsel Inc.'s portfolio, making the stock its 9th largest holding. Cornercap Investment Counsel Inc.'s holdings in Chevron were worth $2,300,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Berkeley Capital Partners LLC raised its stake in shares of Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after acquiring an additional 67 shares in the last quarter. CoreCap Advisors LLC raised its stake in shares of Chevron by 0.3% during the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after acquiring an additional 71 shares in the last quarter. Clayton Financial Group LLC raised its stake in shares of Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 75 shares in the last quarter. Requisite Capital Management LLC raised its stake in shares of Chevron by 1.2% during the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock worth $1,064,000 after acquiring an additional 77 shares in the last quarter. Finally, Silverlake Wealth Management LLC raised its stake in shares of Chevron by 0.7% during the first quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company's stock worth $1,828,000 after acquiring an additional 78 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on CVX shares. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and decreased their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 price target (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Barclays lifted their price target on shares of Chevron from $152.00 to $156.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. TD Cowen decreased their target price 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. Finally, Scotiabank reiterated a "sector perform" rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Chevron has a consensus rating of "Hold" and an average price target of $161.65.

Chevron Stock Down 2.3%

Shares of Chevron stock opened at $151.80 on Tuesday. 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's fifty day simple moving average is $142.95 and its two-hundred day simple moving average is $148.52. The company has a market cap of $265.10 billion, a P/E ratio of 17.35, a PEG ratio of 2.63 and a beta of 0.83. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

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 analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.93 EPS. Research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date was Monday, May 19th. Chevron's 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.

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