Schubert & Co Increases Stake in Chevron Corporation (NYSE:CVX)

Schubert & Co boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,933 shares of the oil and gas company’s stock after acquiring an additional 133 shares during the quarter. Schubert & Co’s holdings in Chevron were worth $491,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. AWM Capital LLC purchased a new stake in shares of Chevron in the first quarter valued at approximately $234,000. Purkiss Capital Advisors LLC increased its position in shares of Chevron by 46.3% in the first quarter. Purkiss Capital Advisors LLC now owns 4,742 shares of the oil and gas company’s stock valued at $793,000 after buying an additional 1,501 shares in the last quarter. Norden Group LLC increased its position in shares of Chevron by 32.7% in the first quarter. Norden Group LLC now owns 24,978 shares of the oil and gas company’s stock valued at $4,178,000 after buying an additional 6,160 shares in the last quarter. Werba Rubin Papier Wealth Management increased its position in shares of Chevron by 4.1% in the first quarter. Werba Rubin Papier Wealth Management now owns 4,468 shares of the oil and gas company’s stock valued at $747,000 after buying an additional 178 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Chevron by 17.7% in the first quarter. Mackenzie Financial Corp now owns 1,031,415 shares of the oil and gas company’s stock valued at $172,545,000 after buying an additional 155,064 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. Scotiabank restated a “sector perform” rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, TD Cowen lowered their price target on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $162.13.

Chevron Stock Performance

NYSE CVX opened at $154.84 on Monday. The stock’s fifty day moving average is $145.12 and its two-hundred day moving average is $148.82. The firm has a market capitalization of $270.40 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

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, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the company posted $2.93 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.