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

Greenleaf Trust boosted its position in Chevron Corporation (NYSE:CVX - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 institutional investors and hedge funds have also recently bought and sold shares of the business. Eagle Capital Management LLC raised its stake in shares of Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after acquiring an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after purchasing an additional 2,641 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Chevron by 59.5% during the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock worth $847,000 after purchasing an additional 2,182 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Chevron during the fourth quarter worth approximately $1,769,000. Finally, Clare Market Investments LLC acquired a new position in Chevron in the fourth quarter valued at $524,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on CVX shares. HSBC lowered Chevron from a "buy" rating to a "hold" rating and cut their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Piper Sandler increased their price target on shares of Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $160.65.

Chevron Stock Up 0.4%

Shares of Chevron stock traded up $0.68 on Thursday, hitting $153.70. 4,262,010 shares of the company traded hands, compared to its average volume of 8,324,155. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a 50-day moving average price of $141.92 and a 200 day moving average price of $148.25. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market cap of $268.42 billion, a PE ratio of 17.57, a PEG ratio of 2.64 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business's revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $2.93 earnings per share. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is presently 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.