Fermata Advisors LLC Grows Holdings in Chevron Co. (NYSE:CVX)

Fermata Advisors LLC grew its stake in Chevron Co. (NYSE:CVX) by 23.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,773 shares of the oil and gas company’s stock after buying an additional 1,828 shares during the period. Fermata Advisors LLC’s holdings in Chevron were worth $1,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Norges Bank purchased a new stake in Chevron during the fourth quarter valued at about $3,017,750,000. Raymond James Financial Inc. purchased a new stake in Chevron during the 4th quarter valued at about $1,036,302,000. GAMMA Investing LLC boosted its holdings in 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 valued at $904,746,000 after acquiring an additional 5,382,847 shares during the period. Bank of New York Mellon Corp boosted its holdings in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Finally, Amundi boosted its stake in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CVX. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. 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 report on Tuesday, May 13th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. TD Cowen dropped their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Finally, Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. 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 MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Price Performance

CVX stock opened at $137.46 on Thursday. The firm has a 50 day moving average price of $140.16 and a 200-day moving average price of $150.11. The firm has a market capitalization of $240.06 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. 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 posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm 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%. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.93 EPS. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.98%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.