Intact Investment Management Inc. Has $11.04 Million Stock Holdings in Chevron Corporation (NYSE:CVX)

Intact Investment Management Inc. decreased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 66,000 shares of the oil and gas company's stock after selling 6,000 shares during the period. Intact Investment Management Inc.'s holdings in Chevron were worth $11,041,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. First American Bank increased its stake in shares of Chevron by 5.0% in the 1st quarter. First American Bank now owns 85,779 shares of the oil and gas company's stock valued at $14,350,000 after purchasing an additional 4,072 shares during the last quarter. Woodmont Investment Counsel LLC boosted its holdings in shares of Chevron by 2.3% during the 1st quarter. Woodmont Investment Counsel LLC now owns 118,233 shares of the oil and gas company's stock valued at $19,779,000 after acquiring an additional 2,670 shares in the last quarter. Sawyer & Company Inc boosted its holdings in shares of Chevron by 1.1% during the 1st quarter. Sawyer & Company Inc now owns 12,837 shares of the oil and gas company's stock valued at $2,148,000 after acquiring an additional 139 shares in the last quarter. Hubbell Strickland Wealth Management LLC boosted its holdings in shares of Chevron by 0.9% during the 1st quarter. Hubbell Strickland Wealth Management LLC now owns 10,013 shares of the oil and gas company's stock valued at $1,675,000 after acquiring an additional 89 shares in the last quarter. Finally, Weaver Capital Management LLC boosted its holdings in shares of Chevron by 349.4% during the 1st quarter. Weaver Capital Management LLC now owns 6,242 shares of the oil and gas company's stock valued at $1,044,000 after acquiring an additional 4,853 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. TD Cowen cut their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Piper Sandler cut their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Redburn Atlantic reissued a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Trading Up 0.8%

CVX traded up $1.17 during midday trading on Friday, hitting $149.36. 23,672,194 shares of the company were exchanged, compared to its average volume of 8,231,243. The firm has a market capitalization of $260.84 billion, a P/E ratio of 17.07, a P/E/G ratio of 2.63 and a beta of 0.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm's 50 day moving average price is $139.37 and its 200-day moving average price is $148.58. 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 (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 return on equity of 10.73% and a net margin of 7.76%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.93 EPS. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Monday, May 19th. 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.