M.E. Allison & CO. Inc. Buys 4,572 Shares of Chevron Co. (NYSE:CVX)

M.E. Allison & CO. Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 86.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,861 shares of the oil and gas company’s stock after purchasing an additional 4,572 shares during the quarter. Chevron makes up approximately 1.6% of M.E. Allison & CO. Inc.’s holdings, making the stock its 12th biggest holding. M.E. Allison & CO. Inc.’s holdings in Chevron were worth $1,650,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVX. Norges Bank bought a new position in shares of Chevron in the 4th quarter valued at about $3,017,750,000. Raymond James Financial Inc. bought a new position in shares of Chevron in the 4th quarter valued at about $1,036,302,000. GAMMA Investing LLC raised its position in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after acquiring an additional 5,382,847 shares during the period. Bank of New York Mellon Corp raised its position in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Finally, Amundi raised its position in shares of Chevron by 27.7% in the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after acquiring an additional 1,910,262 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $145.74 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market capitalization of $254.52 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company’s 50 day moving average price is $138.53 and its two-hundred day moving average price is $149.02. Chevron Co. has a 52 week low of $132.04 and a 52 week 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 net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the company earned $2.93 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Mizuho cut their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company cut their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Finally, DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $160.24.

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.