Ramsay Stattman Vela & Price Inc. Increases Holdings in Chevron Corporation (NYSE:CVX)

Ramsay Stattman Vela & Price Inc. raised its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 16.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,430 shares of the oil and gas company's stock after purchasing an additional 5,816 shares during the quarter. Chevron accounts for 1.3% of Ramsay Stattman Vela & Price Inc.'s holdings, making the stock its 27th largest holding. Ramsay Stattman Vela & Price Inc.'s holdings in Chevron were worth $6,931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter valued at $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the fourth quarter valued at $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter valued at $29,000. Finally, Navigoe LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Up 0.8%

Chevron stock opened at $154.20 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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. The company has a market capitalization of $269.29 billion, a P/E ratio of 17.62, a PEG ratio of 2.59 and a beta of 0.83. The stock has a 50-day simple moving average of $142.28 and a 200-day simple moving average of $148.33.

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 the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the business earned $2.93 EPS. The business's quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CVX. TD Cowen dropped their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Mizuho lowered their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. 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 data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $160.65.

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.

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