Joseph Group Capital Management Has $3.67 Million Holdings in Chevron Corporation (NYSE:CVX)

Joseph Group Capital Management grew its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 17.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,910 shares of the oil and gas company's stock after acquiring an additional 3,182 shares during the quarter. Chevron comprises 1.4% of Joseph Group Capital Management's portfolio, making the stock its 22nd biggest position. Joseph Group Capital Management's holdings in Chevron were worth $3,665,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Norges Bank acquired a new stake in Chevron during the 4th quarter valued at approximately $3,017,750,000. GAMMA Investing LLC grew its stake 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 valued at $904,746,000 after purchasing an additional 5,382,847 shares in the last quarter. Capital World Investors grew its stake in Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after purchasing an additional 1,440,808 shares in the last quarter. Northern Trust Corp grew its stake in Chevron by 7.3% during 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 purchasing an additional 1,394,091 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Chevron by 6.9% during the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock valued at $2,176,579,000 after purchasing an additional 964,426 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the subject of several research reports. Scotiabank lifted their target price on Chevron from $143.00 to $160.00 and gave the stock a "sector perform" rating in a research report on Friday. Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Barclays lifted their target price on Chevron from $152.00 to $156.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. HSBC lowered Chevron from a "buy" rating to a "hold" rating and decreased their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Chevron presently has an average rating of "Hold" and an average target price of $161.65.

Chevron Stock Performance

CVX traded up $1.21 on Friday, hitting $155.38. 8,332,244 shares of the stock traded hands, compared to its average volume of 8,352,057. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $271.35 billion, a PE ratio of 17.76, a P/E/G ratio of 2.61 and a beta of 0.83. The business has a fifty day moving average price of $142.62 and a two-hundred day moving average price of $148.41.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the company posted $2.93 EPS. The company's revenue was down 2.3% compared to the same quarter last year. On average, research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. Chevron's dividend payout ratio is currently 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.