Chevron Co. (NYSE:CVX) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 0.8% during the first quarter, Holdings Channel.com reports. The firm owned 83,034 shares of the oil and gas company’s stock after buying an additional 626 shares during the quarter. Congress Asset Management Co.’s holdings in Chevron were worth $13,891,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CVX. Norges Bank acquired a new position in shares of Chevron during the fourth quarter valued at $3,017,750,000. Raymond James Financial Inc. acquired a new position in shares of Chevron during the fourth quarter valued at $1,036,302,000. GAMMA Investing LLC increased its holdings in shares of Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after purchasing an additional 5,382,847 shares during the period. Bank of New York Mellon Corp grew its holdings in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Finally, Amundi grew its holdings in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after acquiring an additional 1,910,262 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Wells Fargo & Company lowered their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. HSBC lowered Chevron from a “buy” rating to a “hold” rating and lowered their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Trading Up 2.4%

NYSE:CVX opened at $140.21 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $244.86 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The stock has a fifty day simple moving average of $138.98 and a 200 day simple moving average of $149.73.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company posted $2.93 EPS. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.88%. Chevron’s payout ratio 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.