Bridgewater Advisors Inc. Takes $1.19 Million Position in Chevron Corporation (NYSE:CVX)

Bridgewater Advisors Inc. bought a new position in shares of Chevron Corporation (NYSE:CVX) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,085 shares of the oil and gas company’s stock, valued at approximately $1,185,000.

A number of other large investors also recently modified their holdings of CVX. Eagle Capital Management LLC raised its holdings in 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 worth $5,011,000 after purchasing an additional 242 shares during the period. Bank Pictet & Cie Europe AG increased 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 acquiring an additional 2,641 shares during the last quarter. Proficio Capital Partners LLC increased 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 acquiring an additional 2,182 shares during the last quarter. Greenwich Wealth Management LLC grew its stake in shares of Chevron by 21.0% during the fourth quarter. Greenwich Wealth Management LLC now owns 3,371 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 585 shares during the last quarter. Finally, IMG Wealth Management Inc. bought a new position in shares of Chevron during the fourth quarter valued at approximately $25,000. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on CVX shares. Barclays increased their price objective on Chevron from $152.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Monday, July 7th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, Redburn Atlantic restated a “sell” rating and issued a $124.00 price target (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, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $161.65.

Chevron Stock Performance

NYSE CVX opened at $151.80 on Tuesday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a market capitalization of $265.10 billion, a PE ratio of 17.35, a P/E/G ratio of 2.63 and a beta of 0.83. The company has a fifty day moving average of $142.95 and a two-hundred day moving average of $148.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 earnings per share. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.51%. Chevron’s dividend payout ratio is currently 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.