Chevron Corporation (NYSE:CVX) Shares Bought by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,028 shares of the oil and gas company's stock after buying an additional 2,639 shares during the quarter. Chevron makes up approximately 2.2% of Global Wealth Management Investment Advisory Inc.'s portfolio, making the stock its 11th biggest position. Global Wealth Management Investment Advisory Inc.'s holdings in Chevron were worth $11,046,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after buying an additional 392,916 shares in the last quarter. Norges Bank purchased a new position in shares of Chevron in the 4th quarter valued at about $3,017,750,000. Northern Trust Corp increased its holdings in shares of Chevron by 7.3% in the 4th 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 during the last quarter. Franklin Resources Inc. raised its position in shares of Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock worth $2,502,850,000 after acquiring an additional 79,917 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake 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 worth $2,421,564,000 after purchasing an additional 211,023 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX traded down $0.97 during mid-day trading on Monday, reaching $147.40. The stock had a trading volume of 9,459,288 shares, compared to its average volume of 8,286,466. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The business has a 50 day simple moving average of $141.16 and a 200 day simple moving average of $148.15. The firm has a market capitalization of $257.42 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.51 and a beta of 0.83. 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 posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the firm earned $2.93 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. On average, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.64%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analyst Ratings Changes

CVX has been the topic of several recent analyst reports. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Barclays lifted their price target on shares of Chevron from $152.00 to $156.00 and gave the stock an "equal weight" rating in a research note on Monday. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, HSBC downgraded Chevron from a "buy" rating to a "hold" rating and reduced their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.