Stonegate Investment Group LLC Boosts Stake in Chevron Corporation (NYSE:CVX)

Stonegate Investment Group LLC increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 790,099 shares of the oil and gas company's stock after acquiring an additional 9,795 shares during the period. Chevron makes up about 3.5% of Stonegate Investment Group LLC's holdings, making the stock its 7th biggest position. Stonegate Investment Group LLC's holdings in Chevron were worth $132,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in 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 worth $5,247,142,000 after buying an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after buying an additional 746,806 shares in the last quarter. Norges Bank purchased a new position in Chevron in the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp grew its stake in 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 worth $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after buying an additional 410,460 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Up 0.8%

Shares of NYSE CVX opened at $149.36 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market capitalization of $260.84 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.60 and a beta of 0.83. The firm has a fifty day simple moving average of $139.37 and a two-hundred day simple moving average of $148.72.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the business earned $2.93 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. Equities 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 issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.58%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Piper Sandler cut their price objective on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price objective (down previously 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, eight have given 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 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.

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