Davies Financial Advisors Inc. bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,772 shares of the oil and gas company's stock, valued at approximately $296,000.
Several other institutional investors have also recently bought and sold shares of CVX. Norges Bank acquired a new stake in shares of Chevron during the fourth quarter valued at about $3,017,750,000. Raymond James Financial Inc. bought a new position in Chevron in the 4th quarter valued at approximately $1,036,302,000. GAMMA Investing LLC boosted its position in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after buying an additional 5,382,847 shares during the period. Bank of New York Mellon Corp grew its holdings in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares during the last quarter. Finally, Amundi increased its position in Chevron by 27.7% in the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after acquiring an additional 1,910,262 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on CVX shares. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. TD Cowen reduced their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Redburn Atlantic restated a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $160.24.
Get Our Latest Stock Report on Chevron
Chevron Stock Down 2.2%
CVX stock traded down $3.20 during trading on Tuesday, reaching $143.67. 10,765,235 shares of the stock were exchanged, compared to its average volume of 8,250,577. The firm's 50 day moving average is $139.60 and its 200 day moving average is $148.52. The firm has a market cap of $250.90 billion, a P/E ratio of 16.42, 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 twelve month low of $132.04 and a twelve month high of $168.96.
Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.93 EPS. As a group, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.
Chevron Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.76%. Chevron's payout ratio is 78.17%.
Chevron Company Profile
(
Free Report)
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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