Chevron Corporation (NYSE:CVX) Shares Bought by Easterly Investment Partners LLC

Easterly Investment Partners LLC lifted its position in shares of Chevron Corporation (NYSE:CVX) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,677 shares of the oil and gas company’s stock after purchasing an additional 3,071 shares during the quarter. Easterly Investment Partners LLC’s holdings in Chevron were worth $7,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Eagle Capital Management LLC grew its stake in shares of Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after purchasing an additional 242 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of 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. Proficio Capital Partners LLC grew its stake in shares of Chevron by 59.5% during the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company’s stock worth $847,000 after purchasing an additional 2,182 shares during the period. Compass Ion Advisors LLC lifted its position in shares of Chevron by 3.2% during the 4th quarter. Compass Ion Advisors LLC now owns 6,121 shares of the oil and gas company’s stock valued at $887,000 after buying an additional 190 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Chevron by 64.4% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,692 shares of the oil and gas company’s stock valued at $821,000 after buying an additional 2,230 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.5%

Shares of CVX stock opened at $149.96 on Thursday. The stock’s fifty day moving average is $143.53 and its two-hundred day moving average is $148.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market capitalization of $261.88 billion, a P/E ratio of 17.14, a PEG ratio of 2.56 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS 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 for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the firm earned $2.93 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.56%. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 target price (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Scotiabank reiterated a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and decreased their target price for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, BNP Paribas lowered Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus target price of $161.65.

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.