Impact Capital Partners LLC Purchases 9,473 Shares of Chevron Co. (NYSE:CVX)

Impact Capital Partners LLC grew its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 164.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,221 shares of the oil and gas company's stock after purchasing an additional 9,473 shares during the quarter. Chevron comprises approximately 0.9% of Impact Capital Partners LLC's investment portfolio, making the stock its 26th largest position. Impact Capital Partners LLC's holdings in Chevron were worth $2,546,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Norges Bank bought a new position in Chevron during the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. bought a new position in Chevron during the 4th quarter worth approximately $1,036,302,000. GAMMA Investing LLC raised its holdings in 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 worth $904,746,000 after purchasing an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the last quarter. Finally, Amundi raised its holdings in Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

NYSE CVX opened at $140.21 on Friday. The company has a fifty day simple moving average of $138.98 and a 200 day simple moving average of $149.81. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $244.86 billion, a P/E ratio of 14.42, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. Chevron's revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. TD Cowen reduced their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three research 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's stock. According to data from MarketBeat, Chevron presently has an average rating of "Hold" and an average target price of $160.24.

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.

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