Segall Bryant & Hamill LLC Increases Stock Holdings in Chevron Corporation (NYSE:CVX)

Segall Bryant & Hamill LLC lifted its position in Chevron Corporation (NYSE:CVX) by 42.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 198,212 shares of the oil and gas company’s stock after purchasing an additional 59,425 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Chevron were worth $33,159,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CVX. Eagle Capital Management LLC grew its holdings in shares of Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after purchasing an additional 242 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after buying an additional 2,641 shares during the period. Proficio Capital Partners LLC boosted its stake in Chevron by 59.5% during the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company’s stock worth $847,000 after buying an additional 2,182 shares during the period. IMG Wealth Management Inc. purchased a new position in Chevron during the fourth quarter worth about $25,000. Finally, Argent Advisors Inc. boosted its stake in Chevron by 6.2% during the fourth quarter. Argent Advisors Inc. now owns 9,279 shares of the oil and gas company’s stock worth $1,344,000 after buying an additional 542 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.6%

Shares of Chevron stock opened at $150.71 on Wednesday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a 50 day moving average of $143.24 and a 200 day moving average of $148.54. 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 company has a market capitalization of $263.20 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.57 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping 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 company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the company earned $2.93 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. 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 4.54%. Chevron’s payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Piper Sandler reissued an “overweight” rating on shares of Chevron in a research note on Tuesday. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $161.65.

Chevron 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.