Harel Insurance Investments & Financial Services Ltd. Raises Stake in Chevron Corporation (NYSE:CVX)

Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4,630.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,773 shares of the oil and gas company's stock after acquiring an additional 12,503 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Chevron were worth $2,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Eagle Capital Management LLC boosted its holdings in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after buying an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after acquiring an additional 2,641 shares during the period. Cookson Peirce & Co. Inc. raised its stake in Chevron by 4.6% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,309 shares of the oil and gas company's stock valued at $334,000 after acquiring an additional 101 shares during the period. Proficio Capital Partners LLC raised its stake in Chevron by 59.5% in the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock valued at $847,000 after acquiring an additional 2,182 shares during the period. Finally, Inceptionr LLC bought a new stake in Chevron in the 4th quarter valued at about $760,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. HSBC cut Chevron from a "buy" rating to a "hold" rating and decreased their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. BNP Paribas cut Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Barclays upped their price target on Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $160.65.

Chevron Price Performance

Shares of CVX stock traded down $0.97 during trading on Monday, hitting $147.40. The company had a trading volume of 9,459,288 shares, compared to its average volume of 8,286,466. 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 stock's 50-day moving average is $141.31 and its two-hundred day moving average is $148.18. The stock has a market capitalization of $257.42 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate 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 7.76% and a return on equity of 10.73%. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.93 earnings per share. As a group, analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is currently 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.