Gibraltar Capital Management Inc. Invests $305,000 in Chevron Corporation (NYSE:CVX)

Gibraltar Capital Management Inc. bought a new position in Chevron Corporation (NYSE:CVX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,821 shares of the oil and gas company's stock, valued at approximately $305,000.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after buying an additional 392,916 shares during the period. Norges Bank acquired a new stake in shares of Chevron during the fourth quarter worth about $3,017,750,000. Northern Trust Corp raised its position 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 acquiring an additional 1,394,091 shares in the last quarter. Franklin Resources Inc. raised its position in Chevron by 0.5% during the fourth quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after acquiring an additional 79,917 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Chevron by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after acquiring an additional 211,023 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

NYSE CVX traded down $0.97 during trading hours on Monday, reaching $147.40. The company's stock had a trading volume of 9,459,288 shares, compared to its average volume of 8,286,464. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market cap of $257.42 billion, a PE ratio of 16.85, a PEG ratio of 2.51 and a beta of 0.83. The company's 50-day moving average is $141.16 and its two-hundred day moving average is $148.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.93 EPS. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.64%. Chevron's payout ratio is 78.17%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of "Hold" and an average target price of $160.65.

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.