HighTower Advisors LLC Buys 53,241 Shares of Chevron Corporation (NYSE:CVX)

HighTower Advisors LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,313,831 shares of the oil and gas company’s stock after buying an additional 53,241 shares during the period. HighTower Advisors LLC’s holdings in Chevron were worth $387,081,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC raised its position in Chevron by 0.3% in the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock worth $4,091,000 after purchasing an additional 71 shares in the last quarter. Clayton Financial Group LLC raised its stake in shares of Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after acquiring an additional 75 shares during the last quarter. Gill Capital Partners LLC raised its stake in shares of Chevron by 4.9% in the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock valued at $271,000 after acquiring an additional 75 shares during the last quarter. Cordatus Wealth Management LLC raised its stake in shares of Chevron by 0.4% in the first quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company’s stock valued at $3,299,000 after acquiring an additional 76 shares during the last quarter. Finally, Requisite Capital Management LLC raised its stake in shares of Chevron by 1.2% in the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock valued at $1,064,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. 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. UBS Group reiterated a “buy” rating and issued a $186.00 target price (up previously from $177.00) on shares of Chevron in a research note on Monday, August 4th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $164.11.

Chevron Price Performance

CVX opened at $153.53 on Tuesday. The company has a fifty day moving average price of $148.77 and a two-hundred day moving average price of $148.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market capitalization of $265.30 billion, a PE ratio of 19.76, a P/E/G ratio of 2.32 and a beta of 0.87.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the previous year, the business earned $2.55 EPS. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s payout ratio is currently 88.03%.

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.