Chevron Co. (NYSE:CVX) Shares Purchased by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. lifted its holdings in Chevron Co. (NYSE:CVX) by 0.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 119,633 shares of the oil and gas company’s stock after purchasing an additional 536 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Chevron were worth $20,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Chevron by 10.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,133,752 shares of the oil and gas company’s stock worth $189,666,000 after acquiring an additional 104,103 shares in the last quarter. Tritonpoint Wealth LLC grew its holdings in Chevron by 3.8% during the 1st quarter. Tritonpoint Wealth LLC now owns 51,226 shares of the oil and gas company’s stock worth $8,570,000 after acquiring an additional 1,877 shares in the last quarter. Meritas Wealth Management LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $223,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Chevron during the 1st quarter worth approximately $5,013,000. Finally, Goldstone Financial Group LLC lifted its position in shares of Chevron by 69.7% during the 1st quarter. Goldstone Financial Group LLC now owns 8,444 shares of the oil and gas company’s stock worth $1,413,000 after buying an additional 3,467 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.5%

Shares of Chevron stock opened at $145.74 on Friday. The company has a market cap of $254.52 billion, a P/E ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The firm has a fifty day moving average of $138.53 and a two-hundred day moving average of $149.20.

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. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.93 EPS. On average, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company 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 4.69%. Chevron’s payout ratio is currently 78.17%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. TD Cowen reduced their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, Piper Sandler reduced their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $160.24.

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.