Chevron Corporation (NYSE:CVX) Stock Holdings Increased by Altrius Capital Management Inc

Altrius Capital Management Inc raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,706 shares of the oil and gas company’s stock after acquiring an additional 113 shares during the period. Altrius Capital Management Inc’s holdings in Chevron were worth $5,304,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sage Capital Advisors llc raised its stake in shares of Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after buying an additional 919 shares in the last quarter. CCG Wealth Management LLC raised its stake in shares of Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after buying an additional 145 shares in the last quarter. Pines Wealth Management LLC raised its stake in shares of Chevron by 3.3% in the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock worth $1,306,000 after buying an additional 253 shares in the last quarter. Viking Fund Management LLC raised its stake in shares of Chevron by 9.3% in the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after buying an additional 10,000 shares in the last quarter. Finally, Allianz SE bought a new stake in shares of Chevron in the 4th quarter worth $9,369,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. HSBC downgraded 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. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

Shares of NYSE CVX opened at $149.36 on Friday. The business’s 50-day moving average price is $139.37 and its two-hundred day moving average price is $148.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market capitalization of $260.84 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating 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 firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.