Sonora Investment Management Group LLC Boosts Position in Chevron Co. (NYSE:CVX)

Sonora Investment Management Group LLC boosted its stake in Chevron Co. (NYSE:CVX) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,400 shares of the oil and gas company’s stock after acquiring an additional 4,257 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Chevron were worth $14,621,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. TFB Advisors LLC grew its stake in shares of Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after acquiring an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its holdings in Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares during the last quarter. Berkeley Capital Partners LLC grew its position in Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after purchasing an additional 67 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its stake in Chevron by 6.1% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock valued at $171,000 after buying an additional 68 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.4%

Shares of NYSE:CVX opened at $140.76 on Tuesday. The firm has a fifty day moving average price of $138.46 and a two-hundred day moving average price of $149.50. The company has a market cap of $245.82 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

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 company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 earnings per share. Analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. 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 4.86%. Chevron’s payout ratio is 78.17%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CVX shares. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and cut their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Mizuho lowered their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their target price 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. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $160.24.

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.