Rhumbline Advisers Has $499.17 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Rhumbline Advisers trimmed its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,983,853 shares of the oil and gas company's stock after selling 77,622 shares during the period. Chevron accounts for 0.5% of Rhumbline Advisers' portfolio, making the stock its 26th biggest position. Rhumbline Advisers owned approximately 0.17% of Chevron worth $499,169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. IMG Wealth Management Inc. bought a new position in Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter valued at about $29,000. 10Elms LLP bought a new position in Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC grew its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after buying an additional 88 shares in the last quarter. Finally, Navigoe LLC bought a new position in Chevron in the 4th quarter valued at about $33,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on CVX shares. Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Finally, Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $160.24.

Chevron Trading Up 0.8%

NYSE:CVX traded up $1.10 on Monday, hitting $137.80. 9,074,640 shares of the stock were exchanged, compared to its average volume of 8,109,899. The stock has a market capitalization of $240.64 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company's 50-day moving average price is $141.88 and its 200 day moving average price is $150.44.

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 (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the company earned $2.93 EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.96%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is 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.