Zhang Financial LLC Buys 2,030 Shares of Chevron Co. (NYSE:CVX)

Zhang Financial LLC boosted its position in Chevron Co. (NYSE:CVX - Free Report) by 58.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,507 shares of the oil and gas company's stock after acquiring an additional 2,030 shares during the quarter. Zhang Financial LLC's holdings in Chevron were worth $921,000 as of its most recent filing with the Securities & Exchange Commission.

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

Chevron Stock Performance

CVX stock traded up $0.77 during trading on Friday, reaching $145.74. 14,126,704 shares of the company's stock were exchanged, compared to its average volume of 8,174,571. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market cap of $254.52 billion, a PE ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83. The company's fifty day moving average price is $138.35 and its 200-day moving average price is $149.32. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the previous year, the company posted $2.93 EPS. The business's revenue was down 2.3% compared to the same quarter last year. On average, research analysts expect that Chevron Co. 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. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. Chevron's payout ratio is 78.17%.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Wells Fargo & Company lowered their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Piper Sandler cut their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. HSBC lowered Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. 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.com, the stock currently has a consensus rating of "Hold" and an average 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.