James Investment Research Inc. Boosts Stock Holdings in Chevron Corporation (NYSE:CVX)

James Investment Research Inc. raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,684 shares of the oil and gas company’s stock after acquiring an additional 235 shares during the quarter. Chevron comprises approximately 1.0% of James Investment Research Inc.’s portfolio, making the stock its 26th biggest holding. James Investment Research Inc.’s holdings in Chevron were worth $8,144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Welch & Forbes LLC raised its holdings in Chevron by 0.4% during the 1st quarter. Welch & Forbes LLC now owns 414,657 shares of the oil and gas company’s stock valued at $69,368,000 after acquiring an additional 1,802 shares during the period. Grandfield & Dodd LLC increased its holdings in shares of Chevron by 0.4% in the first quarter. Grandfield & Dodd LLC now owns 116,077 shares of the oil and gas company’s stock worth $19,419,000 after purchasing an additional 519 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of Chevron by 2.7% in the first quarter. Cullen Frost Bankers Inc. now owns 273,502 shares of the oil and gas company’s stock worth $45,754,000 after purchasing an additional 7,079 shares during the period. Parcion Private Wealth LLC increased its holdings in shares of Chevron by 6.4% in the first quarter. Parcion Private Wealth LLC now owns 56,779 shares of the oil and gas company’s stock worth $9,499,000 after purchasing an additional 3,403 shares during the period. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of Chevron by 42.8% in the first quarter. Segall Bryant & Hamill LLC now owns 198,212 shares of the oil and gas company’s stock worth $33,159,000 after purchasing an additional 59,425 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $150.71 on Wednesday. The company has a 50-day simple moving average of $143.24 and a two-hundred day simple moving average of $148.54. 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 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market cap of $263.20 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.57 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.93 earnings per share. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.54%. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVX. Mizuho decreased their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a report on Tuesday. TD Cowen decreased their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Chevron in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently 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.