Sterling Investment Counsel LLC Has $628,000 Stock Holdings in Chevron Corporation (NYSE:CVX)

Sterling Investment Counsel LLC boosted its position in Chevron Corporation (NYSE:CVX) by 72.1% in the 1st quarter, HoldingsChannel reports. The firm owned 3,754 shares of the oil and gas company’s stock after acquiring an additional 1,573 shares during the period. Sterling Investment Counsel LLC’s holdings in Chevron were worth $628,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CVX. Norges Bank bought a new position in shares of Chevron during the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. acquired a new stake in Chevron during the 4th quarter valued at $1,036,302,000. GAMMA Investing LLC increased its holdings in shares of Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after purchasing an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp raised 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 purchasing an additional 2,432,756 shares during the period. Finally, Amundi lifted its stake in shares of Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

CVX stock opened at $148.18 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a market cap of $258.78 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.61 and a beta of 0.83. The company’s 50-day moving average price is $138.82 and its two-hundred day moving average price is $148.90. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. 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 firm earned $2.93 EPS. Chevron’s revenue was down 2.3% on a year-over-year basis. On average, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research note on Tuesday, May 6th. Mizuho lowered their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. UBS Group dropped their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $160.24.

About Chevron

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.