Chevron Co. (NYSE:CVX) Shares Bought by Fermata Advisors LLC

Fermata Advisors LLC grew its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 23.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,773 shares of the oil and gas company's stock after buying an additional 1,828 shares during the period. Fermata Advisors LLC's holdings in Chevron were worth $1,635,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $1,036,302,000. GAMMA Investing LLC increased its position in shares of Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after acquiring an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 purchasing an additional 2,432,756 shares in the last quarter. Finally, Amundi increased its stake in shares of Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Cowen decreased their price target 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. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Piper Sandler reduced their price objective on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, BNP Paribas lowered shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Up 2.4%

NYSE:CVX traded up $3.31 during mid-day trading on Friday, hitting $140.21. 6,555,988 shares of the company's stock traded hands, compared to its average volume of 8,110,481. The company has a fifty day moving average of $139.54 and a 200 day moving average of $149.95. The company has a market capitalization of $244.86 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.93 earnings per share. On average, analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is presently 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.