Spirepoint Private Client LLC Grows Position in Chevron Corporation (NYSE:CVX)

Spirepoint Private Client LLC grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 11.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,729 shares of the oil and gas company's stock after purchasing an additional 6,202 shares during the quarter. Chevron accounts for 1.3% of Spirepoint Private Client LLC's investment portfolio, making the stock its 20th biggest position. Spirepoint Private Client LLC's holdings in Chevron were worth $9,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Chevron during the 4th quarter worth $3,017,750,000. Raymond James Financial Inc. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $1,036,302,000. GAMMA Investing LLC increased its stake in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after buying an additional 5,382,847 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after buying an additional 2,432,756 shares in the last quarter. Finally, Amundi grew its position in Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

Shares of CVX stock traded down $3.20 during trading hours on Tuesday, hitting $143.67. 10,726,497 shares of the company were exchanged, compared to its average volume of 9,052,125. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a fifty day simple moving average of $139.60 and a 200 day simple moving average of $148.52. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $250.90 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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. 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 10.73% and a net margin of 7.76%. The company's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 earnings per share. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analysts Set New Price Targets

Several research firms recently weighed in on CVX. Mizuho dropped 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. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.