Sierra Ocean LLC Buys 118 Shares of Chevron Corporation (NYSE:CVX)

Sierra Ocean LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 15.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 882 shares of the oil and gas company’s stock after buying an additional 118 shares during the quarter. Sierra Ocean LLC’s holdings in Chevron were worth $148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Eagle Capital Management LLC boosted its stake in Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after purchasing an additional 242 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after purchasing an additional 2,641 shares during the period. Proficio Capital Partners LLC boosted its stake in Chevron by 59.5% in the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company’s stock worth $847,000 after purchasing an additional 2,182 shares during the period. Inceptionr LLC bought a new position in Chevron in the 4th quarter worth approximately $760,000. Finally, Edgestream Partners L.P. bought a new position in Chevron in the 4th quarter worth approximately $1,769,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $148.23 on Friday. The stock has a market cap of $258.86 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a 50 day moving average price of $141.16 and a 200-day moving average price of $148.10. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

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

Chevron Dividend Announcement

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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Analysts Set New Price Targets

Several research firms have weighed in on CVX. BNP Paribas downgraded Chevron to a “cautious” rating in a research note on Tuesday, April 15th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a “hold” 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 issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $160.41.

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.