Park Place Capital Corp Acquires 977 Shares of Chevron Corporation (NYSE:CVX)

Park Place Capital Corp lifted its holdings in Chevron Corporation (NYSE:CVX) by 19.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,116 shares of the oil and gas company’s stock after acquiring an additional 977 shares during the period. Park Place Capital Corp’s holdings in Chevron were worth $1,023,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Eagle Capital Management LLC raised its stake in shares of Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after acquiring an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after purchasing an additional 2,641 shares during the period. Sprott Inc. bought a new stake in Chevron during the 4th quarter valued at $432,000. Advisor OS LLC lifted its holdings in shares of Chevron by 23.5% in the 4th quarter. Advisor OS LLC now owns 4,966 shares of the oil and gas company’s stock worth $719,000 after buying an additional 945 shares during the period. Finally, NewEdge Wealth LLC grew its position in shares of Chevron by 2.1% during the 4th quarter. NewEdge Wealth LLC now owns 57,277 shares of the oil and gas company’s stock worth $8,296,000 after buying an additional 1,153 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.8%

Shares of CVX stock opened at $144.40 on Friday. The stock’s fifty day moving average price is $140.08 and its 200 day moving average price is $148.37. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $252.18 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. 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 issued its quarterly 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 return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the company earned $2.93 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.74%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

Analysts Set New Price Targets

Several research firms recently weighed in on CVX. Wells Fargo & Company restated an “overweight” rating and issued a $165.00 price objective (up from $164.00) on shares of Chevron in a report on Thursday. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. 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 investment 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. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and an average target price of $160.29.

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.