Chevron Co. (NYSE:CVX) Stake Lifted by QV Investors Inc.

QV Investors Inc. raised its stake in Chevron Co. (NYSE:CVX) by 10.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 24,737 shares of the oil and gas company’s stock after buying an additional 2,320 shares during the quarter. QV Investors Inc.’s holdings in Chevron were worth $4,138,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP acquired a new position in shares of Chevron during the fourth quarter worth approximately $29,000. Fairway Wealth LLC grew its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares in the last quarter. Finally, Navigoe LLC bought a new position in Chevron in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, TD Cowen reduced their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Three 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $160.24.

Chevron Trading Down 1.1%

Chevron stock opened at $136.43 on Monday. The firm has a market cap of $238.26 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm’s 50 day moving average price is $141.88 and its two-hundred day moving average price is $150.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its quarterly earnings data 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. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.93 EPS. On average, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. Chevron’s dividend payout ratio is currently 78.17%.

About Chevron

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.