Chevron Corporation (NYSE:CVX) Shares Purchased by Trek Financial LLC

Trek Financial LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 16.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,298 shares of the oil and gas company’s stock after acquiring an additional 1,316 shares during the quarter. Trek Financial LLC’s holdings in Chevron were worth $1,555,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after acquiring an additional 392,916 shares in the last quarter. Norges Bank purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $3,017,750,000. Northern Trust Corp lifted its position in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares in the last quarter. Franklin Resources Inc. lifted its position in Chevron by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company’s stock worth $2,502,850,000 after buying an additional 79,917 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company’s stock worth $2,421,564,000 after buying an additional 211,023 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVX. TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and decreased their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Finally, Barclays boosted their target price on Chevron from $152.00 to $156.00 and gave the stock an “equal weight” rating in a report on Monday. Three investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $160.65.

Chevron Stock Performance

Shares of Chevron stock opened at $153.04 on Wednesday. The firm has a fifty day moving average of $141.58 and a two-hundred day moving average of $148.22. The stock has a market capitalization of $267.27 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.50 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the prior year, the company earned $2.93 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio 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.