Proficio Capital Partners LLC Raises Stock Holdings in Chevron Corporation (NYSE:CVX)

Proficio Capital Partners LLC lifted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 173.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 16,012 shares of the oil and gas company's stock after purchasing an additional 10,161 shares during the quarter. Proficio Capital Partners LLC's holdings in Chevron were worth $2,679,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after buying an additional 392,916 shares during the last quarter. Norges Bank acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $3,017,750,000. Northern Trust Corp boosted its holdings in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after buying an additional 1,394,091 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Chevron by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after buying an additional 79,917 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after buying an additional 211,023 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVX shares. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Scotiabank reissued a "sector perform" rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down 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, six have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average price target of $162.13.

Chevron Price Performance

Shares of Chevron stock traded up $2.70 during trading on Thursday, hitting $155.82. 15,683,364 shares of the stock traded hands, compared to its average volume of 9,521,180. The stock has a market cap of $272.12 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.48 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm's fifty day moving average is $144.59 and its 200-day moving average is $148.73. 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 released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 EPS. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given 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 4.39%. Chevron's dividend payout ratio is currently 78.17%.

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.