Easterly Investment Partners LLC Acquires 3,071 Shares of Chevron Corporation (NYSE:CVX)

Easterly Investment Partners LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,677 shares of the oil and gas company's stock after buying an additional 3,071 shares during the period. Easterly Investment Partners LLC's holdings in Chevron were worth $7,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sage Capital Advisors llc increased its stake in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after acquiring an additional 919 shares during the period. CCG Wealth Management LLC increased its stake in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after acquiring an additional 145 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after acquiring an additional 675 shares during the period. Pines Wealth Management LLC increased its stake in shares of Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after acquiring an additional 253 shares during the period. Finally, Viking Fund Management LLC increased its holdings in shares of Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock valued at $19,573,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Down 1.1%

CVX stock traded down $1.59 during midday trading on Friday, hitting $149.79. The company's stock had a trading volume of 45,762,307 shares, compared to its average volume of 8,533,067. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company's fifty day moving average price is $143.81 and its 200 day moving average price is $148.61. The stock has a market capitalization of $261.59 billion, a P/E ratio of 17.12, a PEG ratio of 2.45 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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 firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the business earned $2.93 EPS. The company's revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $161.31.

Chevron 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.