Chevron Co. (NYSE:CVX) Shares Acquired by Adero Partners LLC

Adero Partners LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 22.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,377 shares of the oil and gas company’s stock after purchasing an additional 1,177 shares during the period. Adero Partners LLC’s holdings in Chevron were worth $1,067,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in Chevron by 0.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,210,698 shares of the oil and gas company’s stock valued at $202,538,000 after acquiring an additional 7,697 shares during the period. M.E. Allison & CO. Inc. increased its position in Chevron by 86.4% in the 1st quarter. M.E. Allison & CO. Inc. now owns 9,861 shares of the oil and gas company’s stock valued at $1,650,000 after acquiring an additional 4,572 shares during the period. Mission Wealth Management LP increased its position in Chevron by 44.3% in the 1st quarter. Mission Wealth Management LP now owns 56,946 shares of the oil and gas company’s stock valued at $9,527,000 after acquiring an additional 17,472 shares during the period. Brown Miller Wealth Management LLC increased its position in Chevron by 24.5% in the 1st quarter. Brown Miller Wealth Management LLC now owns 15,754 shares of the oil and gas company’s stock valued at $2,635,000 after acquiring an additional 3,098 shares during the period. Finally, 1900 Wealth Management LLC increased its position in Chevron by 2.6% in the 1st quarter. 1900 Wealth Management LLC now owns 7,212 shares of the oil and gas company’s stock valued at $1,206,000 after acquiring an additional 180 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several recent analyst reports. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, Mizuho decreased their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $160.24.

Chevron Trading Up 0.5%

CVX stock opened at $145.74 on Monday. The company has a market cap of $254.52 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $138.53 and a 200-day simple moving average of $149.02. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during 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 business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.93 EPS. On average, equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

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