Chevron Corporation (NYSE:CVX) Position Raised by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of Chevron Corporation (NYSE:CVX) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,313,831 shares of the oil and gas company’s stock after purchasing an additional 53,241 shares during the period. HighTower Advisors LLC owned 0.13% of Chevron worth $387,081,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd increased its stake in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the last quarter. 10Elms LLP acquired a new position in shares of Chevron in the fourth quarter worth $29,000. Navigoe LLC acquired a new position in shares of Chevron in the fourth quarter worth $33,000. IFS Advisors LLC increased its stake in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new position in shares of Chevron in the first quarter worth $39,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.0%

CVX stock opened at $153.53 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a 50-day moving average of $148.77 and a two-hundred day moving average of $148.51. The stock has a market capitalization of $265.30 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 2.32 and a beta of 0.87.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research reports. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $164.11.

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.