Chevron Co. (NYSE:CVX) Shares Purchased by Allied Investment Advisors LLC

Allied Investment Advisors LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,380 shares of the oil and gas company’s stock after buying an additional 3,273 shares during the period. Chevron makes up 2.5% of Allied Investment Advisors LLC’s holdings, making the stock its 11th largest position. Allied Investment Advisors LLC’s holdings in Chevron were worth $13,279,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital & Planning LLC raised its holdings in shares of Chevron by 15.2% in the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after buying an additional 222 shares during the last quarter. Eagle Capital Management LLC increased its position in shares of Chevron by 0.7% in 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 acquiring an additional 242 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Chevron in the 4th quarter valued at $8,947,000. Sonora Investment Management Group LLC raised its stake in Chevron by 8.0% in the 4th quarter. Sonora Investment Management Group LLC now owns 83,143 shares of the oil and gas company’s stock worth $12,042,000 after acquiring an additional 6,154 shares during the last quarter. Finally, Hunter Associates Investment Management LLC lifted its position in Chevron by 4.6% during the 4th quarter. Hunter Associates Investment Management LLC now owns 21,652 shares of the oil and gas company’s stock worth $3,130,000 after acquiring an additional 947 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Piper Sandler decreased their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Down 1.1%

CVX opened at $136.43 on Friday. The company has a fifty day moving average of $141.88 and a two-hundred day moving average of $150.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $238.26 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.46 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 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.93 EPS. On average, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is 78.17%.

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.