Douglas Lane & Associates LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Douglas Lane & Associates LLC boosted its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 494,411 shares of the oil and gas company's stock after purchasing an additional 14,405 shares during the period. Chevron makes up about 1.2% of Douglas Lane & Associates LLC's portfolio, making the stock its 23rd biggest position. Douglas Lane & Associates LLC's holdings in Chevron were worth $82,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Life Planning Partners Inc purchased a new stake in shares of Chevron in the 4th quarter valued at $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the 4th quarter valued at $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC boosted its holdings in shares of 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 last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of Chevron stock traded up $1.10 during trading hours on Monday, reaching $137.80. 9,074,640 shares of the company's stock were exchanged, compared to its average volume of 8,109,901. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a market capitalization of $240.64 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The business has a fifty day moving average of $141.88 and a two-hundred day moving average of $150.44. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

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, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is 78.17%.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and decreased their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $160.24.

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.