Consolidated Investment Group LLC Grows Position in Chevron Corporation (NYSE:CVX)

Consolidated Investment Group LLC raised its holdings in Chevron Corporation (NYSE:CVX) by 12.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,780 shares of the oil and gas company’s stock after acquiring an additional 3,080 shares during the period. Consolidated Investment Group LLC’s holdings in Chevron were worth $4,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Eagle Capital Management LLC raised its holdings in shares of Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after buying an additional 242 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Chevron during the 4th quarter valued at about $8,947,000. Bank Pictet & Cie Europe AG raised its holdings in shares of Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after buying an additional 2,641 shares in the last quarter. Compass Capital Corp MA ADV purchased a new position in shares of Chevron during the 4th quarter valued at about $341,000. Finally, Blackston Financial Advisory Group LLC raised its holdings in shares of Chevron by 5.6% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,111 shares of the oil and gas company’s stock valued at $306,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.8%

Chevron stock opened at $149.36 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $139.37 and its two-hundred day simple moving average is $148.65. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market capitalization of $260.84 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83.

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

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. Wells Fargo & Company decreased their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Piper Sandler decreased their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. Finally, HSBC cut Chevron from a “buy” rating to a “hold” rating and decreased their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target 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.