QRG Capital Management Inc. Acquires 21,437 Shares of Chevron Co. (NYSE:CVX)

QRG Capital Management Inc. increased its stake in Chevron Co. (NYSE:CVX - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,326 shares of the oil and gas company's stock after purchasing an additional 21,437 shares during the period. QRG Capital Management Inc.'s holdings in Chevron were worth $44,721,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sage Capital Advisors llc grew its holdings in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after buying an additional 919 shares in the last quarter. Pines Wealth Management LLC grew its stake in shares of Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock worth $1,306,000 after purchasing an additional 253 shares in the last quarter. Viking Fund Management LLC grew its stake in shares of Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock worth $19,573,000 after purchasing an additional 10,000 shares in the last quarter. Allianz SE acquired a new position in shares of Chevron during the fourth quarter valued at $9,369,000. Finally, Nicholas Company Inc. raised its stake in shares of Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after purchasing an additional 3,280 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Up 0.1%

Shares of Chevron stock traded up $0.16 during midday trading on Monday, hitting $146.07. The company's stock had a trading volume of 10,078,133 shares, compared to its average volume of 8,190,321. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. 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 firm has a market capitalization of $255.09 billion, a P/E ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83. The stock has a 50-day simple moving average of $138.53 and a 200-day simple moving average of $149.02.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.93 EPS. As a group, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.68%. Chevron's dividend payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

Several research firms have commented on CVX. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Three 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.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.