Vision Capital Management Inc. Has $940,000 Holdings in Chevron Corporation (NYSE:CVX)

Vision Capital Management Inc. boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 20.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,618 shares of the oil and gas company’s stock after buying an additional 950 shares during the quarter. Vision Capital Management Inc.’s holdings in Chevron were worth $940,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CVX. IMG Wealth Management Inc. bought a new position in Chevron in the fourth quarter worth $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the fourth quarter valued at about $29,000. 10Elms LLP acquired a new position in Chevron in the fourth quarter worth about $29,000. Finally, Navigoe LLC bought a new position in Chevron during the fourth quarter worth about $33,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. Barclays upped their target price on shares of Chevron from $152.00 to $156.00 and gave the stock an “equal weight” rating in a report on Monday. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $160.65.

Chevron Stock Performance

CVX opened at $152.05 on Thursday. The firm has a market cap of $265.54 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.64 and a beta of 0.83. The business’s fifty day moving average is $141.92 and its 200-day moving average is $148.25. Chevron Corporation 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 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the business earned $2.93 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.50%. Chevron’s dividend payout ratio is presently 78.17%.

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.