Murphy Middleton Hinkle & Parker Inc. Grows Stake in Chevron Co. (NYSE:CVX)

Murphy Middleton Hinkle & Parker Inc. raised its stake in shares of Chevron Co. (NYSE:CVX) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,151 shares of the oil and gas company’s stock after purchasing an additional 101 shares during the period. Chevron accounts for about 1.0% of Murphy Middleton Hinkle & Parker Inc.’s portfolio, making the stock its 25th biggest position. Murphy Middleton Hinkle & Parker Inc.’s holdings in Chevron were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after buying an additional 746,806 shares during the last quarter. Norges Bank bought a new position in shares of Chevron during the fourth quarter valued at approximately $3,017,750,000. Northern Trust Corp raised its holdings in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after buying an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after acquiring an additional 410,460 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 1.9%

CVX stock opened at $143.40 on Wednesday. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $250.43 billion, a PE ratio of 14.75, a PEG ratio of 1.46 and a beta of 0.83. The firm’s 50 day moving average price is $138.21 and its 200-day moving average price is $149.46. 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 (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 EPS. On average, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.77%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analyst Weigh In

Several research analysts have commented on CVX shares. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Finally, Redburn Atlantic restated a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $160.24.

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.