NorthCrest Asset Manangement LLC Buys 8,665 Shares of Chevron Co. (NYSE:CVX)

NorthCrest Asset Manangement LLC lifted its position in Chevron Co. (NYSE:CVX - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,695 shares of the oil and gas company's stock after buying an additional 8,665 shares during the quarter. Chevron comprises approximately 1.0% of NorthCrest Asset Manangement LLC's holdings, making the stock its 23rd biggest position. NorthCrest Asset Manangement LLC's holdings in Chevron were worth $32,403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter worth $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the fourth quarter valued at about $29,000. 10Elms LLP acquired a new position in Chevron in the fourth quarter valued at about $29,000. Finally, Fairway Wealth LLC raised its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

Shares of Chevron stock traded up $0.77 during trading hours on Friday, hitting $145.74. 14,126,704 shares of the company's stock traded hands, compared to its average volume of 8,182,686. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market capitalization of $254.52 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83. The company has a fifty day simple moving average of $138.53 and a 200-day simple moving average of $149.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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 for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.69%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. TD Cowen lowered 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. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Piper Sandler lowered their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $160.24.

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.