Chevron Co. (NYSE:CVX) Shares Bought by Bell Bank

Bell Bank raised its holdings in shares of Chevron Co. (NYSE:CVX) by 4.1% during the first quarter, HoldingsChannel.com reports. The firm owned 55,017 shares of the oil and gas company’s stock after buying an additional 2,166 shares during the period. Bell Bank’s holdings in Chevron were worth $9,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter valued at about $25,000. Life Planning Partners Inc acquired a new stake in Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron during the fourth quarter worth about $29,000. 10Elms LLP acquired a new position in shares of Chevron during the fourth quarter valued at about $29,000. Finally, Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CVX. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. 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. Redburn Atlantic reissued a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Finally, 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $160.24.

Chevron Trading Up 0.1%

Shares of NYSE:CVX opened at $146.07 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The business has a 50 day moving average of $138.72 and a two-hundred day moving average of $148.91. The company has a market capitalization of $255.09 billion, a PE ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.68%. Chevron’s dividend payout ratio is presently 78.17%.

Chevron Company 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.