Financial Counselors Inc. Has $45.62 Million Stake in Chevron Corporation (NYSE:CVX)

Financial Counselors Inc. raised its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,722 shares of the oil and gas company's stock after purchasing an additional 2,228 shares during the period. Financial Counselors Inc.'s holdings in Chevron were worth $45,624,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Chevron in the fourth quarter worth approximately $3,017,750,000. GAMMA Investing LLC boosted its holdings in 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 worth $904,746,000 after purchasing an additional 5,382,847 shares in the last quarter. Capital World Investors increased its position in Chevron by 11.4% during the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after buying an additional 1,440,808 shares during the last quarter. Northern Trust Corp raised its holdings in Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Chevron by 6.9% in the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock worth $2,176,579,000 after buying an additional 964,426 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Chevron stock traded down $0.97 during trading hours on Monday, hitting $147.40. The stock had a trading volume of 9,459,288 shares, compared to its average volume of 8,286,463. The company has a 50-day moving average of $141.16 and a two-hundred day moving average of $148.15. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market cap of $257.42 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share 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 7.76% and a return on equity of 10.73%. The business's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.93 earnings per share. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 4.64%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. BNP Paribas lowered Chevron to a "cautious" rating in a report on Tuesday, April 15th. Piper Sandler increased their price target on Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Finally, UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $160.65.

About Chevron

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.