Principal Securities Inc. Acquires 89 Shares of Chevron Corporation (NYSE:CVX)

Principal Securities Inc. increased its position in Chevron Corporation (NYSE:CVX) by 0.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 51,719 shares of the oil and gas company’s stock after acquiring an additional 89 shares during the quarter. Principal Securities Inc.’s holdings in Chevron were worth $8,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Eagle Capital Management LLC lifted its holdings in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after buying an additional 242 shares during the period. Bank Pictet & Cie Europe AG grew its position 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 acquiring an additional 2,641 shares during the period. Proficio Capital Partners LLC grew its position in shares of Chevron by 59.5% during the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company’s stock valued at $847,000 after acquiring an additional 2,182 shares during the period. Edgestream Partners L.P. acquired a new stake in Chevron in the 4th quarter worth about $1,769,000. Finally, Clare Market Investments LLC acquired a new stake in Chevron in the 4th quarter worth about $524,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 3.8%

Shares of NYSE CVX opened at $153.04 on Wednesday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The firm’s 50 day simple moving average is $141.58 and its two-hundred day simple moving average is $148.22. The stock has a market capitalization of $267.27 billion, a P/E ratio of 17.49, a PEG ratio of 2.50 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 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 earnings per share. As a group, analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVX. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and decreased their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Barclays raised their price objective on shares of Chevron from $152.00 to $156.00 and gave the company an “equal weight” rating in a research report on Monday. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Finally, DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. 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. According to MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus price target of $160.65.

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.