Gradient Investments LLC Buys 19,302 Shares of Chevron Co. (NYSE:CVX)

Gradient Investments LLC lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,909 shares of the oil and gas company's stock after acquiring an additional 19,302 shares during the quarter. Chevron makes up 1.0% of Gradient Investments LLC's portfolio, making the stock its 29th biggest holding. Gradient Investments LLC's holdings in Chevron were worth $48,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of CVX. Life Planning Partners Inc acquired a new position in Chevron in the fourth quarter worth about $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the fourth quarter worth approximately $29,000. 10Elms LLP acquired a new stake in shares of Chevron during the fourth quarter worth approximately $29,000. Finally, Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. TD Cowen dropped their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Wells Fargo & Company lowered their price target 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. Finally, Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. 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 company. According to MarketBeat, Chevron has a consensus rating of "Hold" and a consensus price target of $160.24.

Chevron Trading Up 0.2%

Shares of NYSE CVX traded up $0.34 during midday trading on Thursday, reaching $137.71. 2,925,864 shares of the stock were exchanged, compared to its average volume of 8,099,467. The business has a 50-day simple moving average of $140.16 and a two-hundred day simple moving average of $150.11. The company has a market capitalization of $240.50 billion, a price-to-earnings ratio of 14.17, a P/E/G 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 announced 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 company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.93 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.97%. Chevron's dividend payout ratio is 78.17%.

Chevron Company 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.