Chevron Corporation (NYSE:CVX) Shares Bought by Alley Investment Management Company LLC

Alley Investment Management Company LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,014 shares of the oil and gas company’s stock after acquiring an additional 515 shares during the period. Chevron accounts for about 2.4% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 14th largest position. Alley Investment Management Company LLC’s holdings in Chevron were worth $18,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CVX. IMG Wealth Management Inc. purchased a new stake in Chevron during the fourth quarter valued at about $25,000. Life Planning Partners Inc acquired a new stake in Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP acquired a new position in Chevron during the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC grew its stake in Chevron by 75.9% during the fourth 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 during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVX. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. HSBC cut Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. BNP Paribas downgraded Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, TD Cowen reduced their price target on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $160.29.

Chevron Stock Up 0.1%

CVX stock traded up $0.09 during mid-day trading on Wednesday, hitting $145.66. 695,358 shares of the company were exchanged, compared to its average volume of 8,232,299. The company has a market capitalization of $254.38 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. The firm has a fifty day simple moving average of $140.56 and a 200 day simple moving average of $148.08. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating 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 firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the company earned $2.93 earnings per share. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Monday, May 19th. 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.