Wealthfront Advisers LLC Acquires 29,312 Shares of Chevron Corporation (NYSE:CVX)

Wealthfront Advisers LLC lifted its position in Chevron Corporation (NYSE:CVX - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 175,905 shares of the oil and gas company's stock after buying an additional 29,312 shares during the period. Wealthfront Advisers LLC's holdings in Chevron were worth $29,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. IMG Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter worth approximately $25,000. Life Planning Partners Inc bought a new position in shares of Chevron in the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the fourth quarter worth approximately $29,000. 10Elms LLP bought a new position in shares of Chevron in the fourth quarter worth approximately $29,000. Finally, Navigoe LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $33,000. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of NYSE:CVX traded down $2.97 during midday trading on Friday, reaching $148.42. 29,042,282 shares of the company were exchanged, compared to its average volume of 8,471,467. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. 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 business's fifty day moving average is $143.81 and its two-hundred day moving average is $148.61. The stock has a market cap of $259.19 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating 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 quarter last year, the business earned $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current 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 given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.61%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen decreased their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a report on Friday. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Mizuho reduced their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Chevron presently has an average rating of "Hold" and an average target price of $161.31.

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.