Main Street Research LLC Has $1.94 Million Stock Holdings in Chevron Corporation (NYSE:CVX)

Main Street Research LLC increased its stake in Chevron Corporation (NYSE:CVX) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,618 shares of the oil and gas company’s stock after buying an additional 677 shares during the quarter. Main Street Research LLC’s holdings in Chevron were worth $1,944,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mraz Amerine & Associates Inc. boosted its stake in shares of Chevron by 16.6% during the first quarter. Mraz Amerine & Associates Inc. now owns 8,963 shares of the oil and gas company’s stock valued at $1,489,000 after purchasing an additional 1,279 shares in the last quarter. Moloney Securities Asset Management LLC lifted its holdings in Chevron by 0.3% during the 1st quarter. Moloney Securities Asset Management LLC now owns 25,839 shares of the oil and gas company’s stock worth $4,323,000 after purchasing an additional 88 shares in the last quarter. Harvey Capital Management Inc. bought a new position in Chevron in the 1st quarter worth about $272,000. Cornerstone Planning Group LLC increased its stake in Chevron by 20.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 585 shares of the oil and gas company’s stock worth $98,000 after acquiring an additional 98 shares during the last quarter. Finally, Dogwood Wealth Management LLC grew its position in Chevron by 729.9% during the 1st quarter. Dogwood Wealth Management LLC now owns 4,656 shares of the oil and gas company’s stock worth $779,000 after acquiring an additional 4,095 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.2%

NYSE:CVX traded down $0.34 during trading hours on Wednesday, hitting $152.90. 1,520,164 shares of the stock traded hands, compared to its average volume of 8,297,621. The firm has a 50 day moving average price of $141.58 and a 200 day moving average price of $148.22. 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market cap of $267.02 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.50 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, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations 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 company posted $2.93 earnings per share. Equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is 78.17%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVX. Barclays raised their target price on Chevron from $152.00 to $156.00 and gave the company an “equal weight” rating in a research note on Monday. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. BNP Paribas lowered Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Three research 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $160.65.

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.