Vontobel Holding Ltd. Grows Holdings in Chevron Corporation (NYSE:CVX)

Vontobel Holding Ltd. raised its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 17.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,036 shares of the oil and gas company's stock after acquiring an additional 19,919 shares during the period. Vontobel Holding Ltd.'s holdings in Chevron were worth $22,256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the fourth quarter worth $29,000. 10Elms LLP bought a new stake in shares of Chevron during the fourth quarter worth $29,000. Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the period. Finally, IFS Advisors LLC boosted its stake in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Up 1.6%

Shares of CVX stock traded up $2.34 on Wednesday, reaching $147.91. 8,227,091 shares of the stock were exchanged, compared to its average volume of 8,261,205. The stock has a 50 day moving average price of $140.56 and a 200 day moving average price of $148.08. The stock has a market cap of $258.31 billion, a PE ratio of 16.90, a P/E/G ratio of 2.51 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the previous year, the business posted $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.62%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. TD Cowen dropped their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Mizuho dropped their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler lifted their price target on Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $160.41.

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.