Farmers & Merchants Investments Inc. Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Farmers & Merchants Investments Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,633 shares of the oil and gas company’s stock after purchasing an additional 536 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Chevron were worth $20,013,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sage Capital Advisors llc increased its holdings in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after acquiring an additional 919 shares in the last quarter. Pines Wealth Management LLC increased its holdings in Chevron by 3.3% in the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock worth $1,306,000 after acquiring an additional 253 shares in the last quarter. Viking Fund Management LLC increased its holdings in Chevron by 9.3% in the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after acquiring an additional 10,000 shares in the last quarter. Allianz SE purchased a new stake in Chevron in the 4th quarter worth $9,369,000. Finally, Nicholas Company Inc. increased its holdings in Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after acquiring an additional 3,280 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $145.74 on Friday. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The stock has a market cap of $254.52 billion, a PE ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83. The firm has a 50-day simple moving average of $138.53 and a two-hundred day simple moving average of $149.20. 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 (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the business earned $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CVX. Redburn Atlantic reissued 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 downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their price target 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company 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.