Greenleaf Trust Acquires 2,557 Shares of Chevron Corporation (NYSE:CVX)

Greenleaf Trust boosted 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,467 shares of the oil and gas company's stock after purchasing an additional 2,557 shares during the quarter. Greenleaf Trust's holdings in Chevron were worth $10,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Chevron by 1.1% during 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 acquiring an additional 392,916 shares during the period. Norges Bank acquired a new stake in Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp grew its position 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 buying an additional 1,394,091 shares during the last quarter. Franklin Resources Inc. increased its position in 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 valued at $2,502,850,000 after purchasing an additional 79,917 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Chevron by 1.3% during the 4th 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 owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 target price (up previously from $164.00) on shares of Chevron in a research note on Thursday, June 26th. HSBC lowered Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $176.00 to $158.00 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 target price on the stock. in a research report on Tuesday, May 6th. Barclays lifted their target price on Chevron from $152.00 to $156.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $160.65.

Chevron Price Performance

Chevron stock remained flat at $153.24 during midday trading on Wednesday. 9,494,909 shares of the company traded hands, compared to its average volume of 8,327,299. The stock's 50-day simple moving average is $141.58 and its 200-day simple moving average is $148.22. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market capitalization of $267.62 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued 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 the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.93 EPS. On average, sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

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.