North Point Portfolio Managers Corp OH Takes Position in Chevron Corporation (NYSE:CVX)

North Point Portfolio Managers Corp OH acquired a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,343 shares of the oil and gas company's stock, valued at approximately $392,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Eagle Capital Management LLC boosted its position in shares of Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after acquiring an additional 242 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Chevron during the 4th quarter valued at $8,947,000. Bank Pictet & Cie Europe AG boosted its holdings in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after purchasing an additional 2,641 shares during the period. Compass Capital Corp MA ADV bought a new stake in Chevron in the 4th quarter valued at $341,000. Finally, Blackston Financial Advisory Group LLC grew its position in Chevron by 5.6% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,111 shares of the oil and gas company's stock worth $306,000 after purchasing an additional 111 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CVX shares. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. 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. TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, Piper Sandler decreased their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $160.24.

Chevron Trading Up 0.8%

Shares of Chevron stock opened at $149.36 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market capitalization of $260.84 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83. The company has a 50-day simple moving average of $139.37 and a 200 day simple moving average of $148.65. 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 posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.93 earnings per share. Research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

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