Mirador Capital Partners LP Acquires 2,914 Shares of Chevron Co. (NYSE:CVX)

Mirador Capital Partners LP lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,748 shares of the oil and gas company's stock after buying an additional 2,914 shares during the quarter. Chevron comprises 3.1% of Mirador Capital Partners LP's portfolio, making the stock its 7th biggest holding. Mirador Capital Partners LP's holdings in Chevron were worth $17,523,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Chevron in the fourth quarter worth $3,017,750,000. Raymond James Financial Inc. purchased a new stake in Chevron in the 4th quarter worth $1,036,302,000. GAMMA Investing LLC raised its holdings in Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after acquiring an additional 5,382,847 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares in the last quarter. Finally, Amundi boosted its stake in shares of Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after acquiring an additional 1,910,262 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Piper Sandler lowered their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Down 1.4%

Shares of CVX traded down $1.95 during trading hours on Wednesday, hitting $137.60. The company had a trading volume of 5,466,528 shares, compared to its average volume of 8,100,282. 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 capitalization of $240.30 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company's fifty day moving average price is $140.73 and its two-hundred day moving average price is $150.20.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 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 analyst estimates of $49.05 billion. During the same period in the prior year, the firm posted $2.93 earnings per share. The company's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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.