Chevron Co. (NYSE:CVX) Shares Bought by Investors Research Corp

Investors Research Corp lifted its stake in shares of Chevron Co. (NYSE:CVX) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,936 shares of the oil and gas company’s stock after acquiring an additional 114 shares during the period. Investors Research Corp’s holdings in Chevron were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Chevron by 1.1% during 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 acquiring an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 2.4% during 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 acquiring an additional 746,806 shares during the period. Norges Bank purchased a new position in shares of Chevron during the 4th quarter worth $3,017,750,000. Northern Trust Corp raised its holdings in shares of Chevron by 7.3% during 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 acquiring an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of 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 worth $2,881,280,000 after acquiring an additional 410,460 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho reduced their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Wells Fargo & Company dropped their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Down 1.1%

Shares of NYSE:CVX opened at $136.43 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $238.26 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm’s 50-day moving average is $141.88 and its two-hundred day moving average is $150.52. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last issued 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. 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 analyst estimates of $49.05 billion. During the same period in the prior year, the firm earned $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

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.