Foster Victor Wealth Advisors LLC lifted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,678 shares of the oil and gas company's stock after purchasing an additional 3,077 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Chevron were worth $11,489,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in CVX. Norges Bank bought a new position in Chevron during the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. bought a new stake in shares of Chevron in the 4th quarter worth approximately $1,036,302,000. GAMMA Investing LLC lifted its position in shares of Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after buying an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares during the last quarter. Finally, Amundi lifted 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 valued at $1,323,549,000 after buying an additional 1,910,262 shares in the last quarter. 72.42% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CVX. UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. BNP Paribas cut shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Three equities 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $160.24.
Check Out Our Latest Stock Analysis on Chevron
Chevron Stock Down 0.4%
Chevron stock traded down $0.67 during mid-day trading on Wednesday, reaching $148.18. The stock had a trading volume of 9,722,492 shares, compared to its average volume of 8,216,658. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market capitalization of $258.78 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.56 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a 50-day moving average price of $138.78 and a two-hundred day moving average price of $148.91.
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, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the company posted $2.93 earnings per share. The company's quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.
Chevron Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.
About Chevron
(
Free Report)
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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