Goldstone Financial Group LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Goldstone Financial Group LLC grew its holdings in Chevron Co. (NYSE:CVX - Free Report) by 69.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,444 shares of the oil and gas company's stock after buying an additional 3,467 shares during the quarter. Goldstone Financial Group LLC's holdings in Chevron were worth $1,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Chevron during the 4th quarter worth about $3,017,750,000. Raymond James Financial Inc. bought a new position in shares of Chevron during the 4th quarter valued at about $1,036,302,000. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Chevron by 17.3% in the 4th 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 acquiring an additional 2,432,756 shares in the last quarter. Finally, Amundi lifted its stake in Chevron by 27.7% in 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 acquiring an additional 1,910,262 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.3%

Shares of CVX stock traded down $0.41 during trading hours on Monday, reaching $145.50. The company had a trading volume of 6,417,835 shares, compared to its average volume of 8,176,269. The business has a fifty day simple moving average of $138.53 and a 200-day simple moving average of $149.02. The company has a market cap of $254.10 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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. The business 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 company's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.93 earnings per share. On average, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal 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 given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is 78.17%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three 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 data from MarketBeat, the company has an average rating of "Hold" and an average price target of $160.24.

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.