Park Avenue Securities LLC Has $16.28 Million Stake in Chevron Co. (NYSE:CVX)

Park Avenue Securities LLC increased its stake in Chevron Co. (NYSE:CVX - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 97,305 shares of the oil and gas company's stock after purchasing an additional 12,540 shares during the quarter. Park Avenue Securities LLC's holdings in Chevron were worth $16,278,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CVX. Griffith & Werner Inc. lifted its position in Chevron by 8.9% during the 1st quarter. Griffith & Werner Inc. now owns 17,036 shares of the oil and gas company's stock worth $2,850,000 after acquiring an additional 1,397 shares during the last quarter. KMG Fiduciary Partners LLC lifted its position in shares of Chevron by 7.0% during the 1st quarter. KMG Fiduciary Partners LLC now owns 73,253 shares of the oil and gas company's stock worth $12,254,000 after purchasing an additional 4,775 shares during the last quarter. City Center Advisors LLC acquired a new position in shares of Chevron during the 1st quarter worth about $232,000. ARS Wealth Advisors Group LLC boosted its stake in Chevron by 0.5% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 118,881 shares of the oil and gas company's stock valued at $19,888,000 after purchasing an additional 549 shares during the period. Finally, Miracle Mile Advisors LLC grew its holdings in Chevron by 4.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 73,307 shares of the oil and gas company's stock valued at $12,264,000 after buying an additional 3,361 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

CVX traded up $3.31 during midday trading on Friday, reaching $140.21. 6,555,988 shares of the company's stock were exchanged, compared to its average volume of 8,131,049. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $138.98 and a two-hundred day simple moving average of $149.73. The firm has a market capitalization of $244.86 billion, a price-to-earnings ratio of 14.42, 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.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron's revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.93 EPS. As a group, research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.88%. Chevron's dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVX. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Wells Fargo & Company reduced their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. 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 report on Tuesday, May 13th. Finally, Redburn Atlantic restated 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. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $160.24.

Chevron 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.