Oppenheimer & Co. Inc. Purchases 5,895 Shares of Chevron Corporation (NYSE:CVX)

Oppenheimer & Co. Inc. increased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,014 shares of the oil and gas company's stock after purchasing an additional 5,895 shares during the period. Oppenheimer & Co. Inc.'s holdings in Chevron were worth $29,947,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. bought a new position in shares of Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter worth $29,000. Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the period. Finally, IFS Advisors LLC grew its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX stock traded down $2.63 during mid-day trading on Monday, reaching $146.92. The company's stock had a trading volume of 10,493,844 shares, compared to its average volume of 8,240,481. The firm's 50-day moving average is $139.60 and its two-hundred day moving average is $148.52. The company has a market cap of $256.58 billion, a P/E ratio of 16.79, a PEG ratio of 2.63 and a beta of 0.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for 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%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 earnings per share. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.66%. Chevron's payout ratio is presently 78.17%.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. TD Cowen decreased 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. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Three research 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $160.24.

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.