Chevron Corporation (NYSE:CVX) Shares Acquired by PFG Investments LLC

PFG Investments LLC boosted its stake in Chevron Corporation (NYSE:CVX) by 0.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,624 shares of the oil and gas company’s stock after buying an additional 223 shares during the quarter. PFG Investments LLC’s holdings in Chevron were worth $8,134,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Chevron in the fourth quarter valued at $3,017,750,000. Raymond James Financial Inc. purchased a new position in Chevron in the 4th quarter valued at about $1,036,302,000. GAMMA Investing LLC boosted its stake in shares of Chevron by 21,191.5% during 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 purchasing an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares in the last quarter. Finally, Amundi raised its position in shares of Chevron by 27.7% in 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 buying an additional 1,910,262 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Redburn Atlantic restated a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. HSBC lowered Chevron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $160.24.

Chevron Price Performance

Chevron stock opened at $149.36 on Friday. The firm has a fifty day moving average of $139.37 and a 200-day moving average of $148.72. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. 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 capitalization of $260.84 billion, a P/E ratio of 17.07, a PEG ratio of 2.60 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.93 EPS. As a group, analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. Chevron’s payout ratio is currently 78.17%.

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.