Chevron Co. (NYSE:CVX) Holdings Raised by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,695 shares of the oil and gas company’s stock after purchasing an additional 8,665 shares during the quarter. Chevron comprises about 1.0% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 23rd largest holding. NorthCrest Asset Manangement LLC’s holdings in Chevron were worth $32,403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Chevron by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after purchasing an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after acquiring an additional 746,806 shares during the period. Norges Bank acquired a new position in Chevron during the fourth quarter worth about $3,017,750,000. Northern Trust Corp grew its holdings in Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after acquiring an additional 410,460 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CVX shares. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. BNP Paribas lowered Chevron to a “cautious” rating in a report on Tuesday, April 15th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Piper Sandler dropped their price target on Chevron from $173.00 to $162.00 and set an “overweight” 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 assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Trading Up 0.1%

Shares of NYSE CVX opened at $144.90 on Friday. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $253.05 billion, a PE ratio of 14.91, a PEG ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $138.35 and a two-hundred day moving average price of $149.32.

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, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company posted $2.93 EPS. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 4.72%. Chevron’s payout ratio is presently 78.17%.

About Chevron

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.