Lindbrook Capital LLC Grows Stake in Chevron Corporation (NYSE:CVX)

Lindbrook Capital LLC increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 14.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,036 shares of the oil and gas company's stock after buying an additional 1,785 shares during the quarter. Lindbrook Capital LLC's holdings in Chevron were worth $2,348,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Chevron in the fourth quarter valued at about $3,017,750,000. GAMMA Investing LLC lifted its stake in shares of Chevron by 21,191.5% in 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 holdings 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 raised its position in shares of Chevron by 7.3% in 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 holdings 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 worth $2,176,579,000 after acquiring an additional 964,426 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Down 1.1%

Shares of NYSE:CVX opened at $149.79 on Friday. 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 firm has a market cap of $261.59 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 2.45 and a beta of 0.83. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company's fifty day simple moving average is $144.04 and its 200 day simple moving average is $148.67.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results 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 during 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 quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.93 earnings per share. As a group, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Mizuho dropped their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a research note on Tuesday. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Finally, TD Cowen cut their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Chevron has a consensus rating of "Hold" and an average target price of $161.31.

About Chevron

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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