B & T Capital Management DBA Alpha Capital Management Grows Holdings in Chevron Corporation (NYSE:CVX)

B & T Capital Management DBA Alpha Capital Management lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,918 shares of the oil and gas company’s stock after acquiring an additional 1,519 shares during the period. B & T Capital Management DBA Alpha Capital Management’s holdings in Chevron were worth $4,503,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CVX. Norges Bank purchased a new position in shares of Chevron during the 4th quarter worth about $3,017,750,000. GAMMA Investing LLC lifted its holdings in shares of Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the period. Capital World Investors lifted its holdings in shares of Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock worth $2,039,288,000 after acquiring an additional 1,440,808 shares during the period. Northern Trust Corp lifted its holdings in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Chevron by 6.9% during the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company’s stock worth $2,176,579,000 after acquiring an additional 964,426 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.8%

Shares of NYSE:CVX opened at $155.38 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. 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 $142.62 and a two-hundred day moving average of $148.41. The company has a market capitalization of $271.35 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 7.76% and a return on equity of 10.73%. The company 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. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts forecast 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 given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Wells Fargo & Company reissued 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 increased their target price on shares of Chevron from $143.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Friday. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Finally, Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $161.65.

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.