Envestnet Asset Management Inc. Purchases 104,184 Shares of Chevron Corporation (NYSE:CVX)

Envestnet Asset Management Inc. raised its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,771,285 shares of the oil and gas company's stock after acquiring an additional 104,184 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.27% of Chevron worth $798,188,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Eagle Capital Management LLC raised its holdings in shares of Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after buying an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after buying an additional 2,641 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Chevron by 59.5% in the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock valued at $847,000 after buying an additional 2,182 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Chevron in the fourth quarter valued at about $1,769,000. Finally, Lifeworks Advisors LLC raised its holdings in shares of Chevron by 58.2% in the fourth quarter. Lifeworks Advisors LLC now owns 2,500 shares of the oil and gas company's stock valued at $362,000 after buying an additional 920 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $148.23 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $258.86 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. The company's 50 day moving average price is $141.16 and its two-hundred day moving average price is $148.15. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the firm posted $2.93 earnings per share. The business's revenue was down 2.3% on a year-over-year basis. On average, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is currently 78.17%.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 price objective (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Mizuho lowered their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $160.41.

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.

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