Sweeney & Michel LLC Takes $839,000 Position in Chevron Co. (NYSE:CVX)

Sweeney & Michel LLC acquired a new position in Chevron Co. (NYSE:CVX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,016 shares of the oil and gas company's stock, valued at approximately $839,000.

A number of other institutional investors also recently made changes to their positions in CVX. Geode Capital Management LLC increased 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 purchasing an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 2.4% in the fourth 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 purchasing an additional 746,806 shares during the last quarter. Norges Bank bought a new position in shares of Chevron in the fourth quarter worth approximately $3,017,750,000. Northern Trust Corp increased its stake in shares of Chevron by 7.3% in the fourth 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 during the period. Finally, Fisher Asset Management LLC boosted its position in Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after buying an additional 410,460 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Up 1.2%

NYSE:CVX traded up $1.71 during trading hours on Tuesday, reaching $139.55. 8,991,163 shares of the company traded hands, compared to its average volume of 8,113,597. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market capitalization of $243.71 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.46 and a beta of 0.83. The business's 50-day moving average price is $141.27 and its two-hundred day moving average price is $150.27. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

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

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Chevron has a consensus rating of "Hold" and a consensus 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.