OLD National Bancorp IN lessened its stake in Chevron Co. (NYSE:CVX – Free Report) by 4.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,474 shares of the oil and gas company’s stock after selling 4,971 shares during the period. OLD National Bancorp IN’s holdings in Chevron were worth $16,393,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in CVX. Steph & Co. increased its position in Chevron by 6.3% during the 1st quarter. Steph & Co. now owns 4,943 shares of the oil and gas company’s stock valued at $806,000 after purchasing an additional 295 shares during the period. Mayflower Financial Advisors LLC increased its position in Chevron by 1.6% during the 4th quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock valued at $16,533,000 after purchasing an additional 1,453 shares during the period. M&R Capital Management Inc. increased its position in Chevron by 9.8% during the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock valued at $1,361,000 after purchasing an additional 674 shares during the period. Albion Financial Group UT increased its position in Chevron by 0.6% during the 4th quarter. Albion Financial Group UT now owns 17,553 shares of the oil and gas company’s stock valued at $3,151,000 after purchasing an additional 105 shares during the period. Finally, Miracle Mile Advisors LLC increased its position in Chevron by 5.1% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,920 shares of the oil and gas company’s stock valued at $3,575,000 after purchasing an additional 965 shares during the period. Hedge funds and other institutional investors own 69.65% of the company’s stock.
Chevron Stock Performance
Shares of NYSE CVX opened at $157.09 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $132.54 and a 12 month high of $189.68. The company has a 50 day simple moving average of $157.15 and a two-hundred day simple moving average of $164.92. The stock has a market cap of $297.63 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 0.80 and a beta of 1.16.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio (DPR) is 32.61%.
Analyst Ratings Changes
A number of analysts have recently weighed in on CVX shares. Raymond James lowered their price target on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a report on Friday, April 14th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 price target on the stock in a report on Tuesday, May 23rd. BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target on the stock in a report on Tuesday, April 4th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $195.00 to $200.00 in a report on Thursday, April 13th. Finally, Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $165.00 to $180.00 in a report on Thursday, June 1st. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.68.
Chevron Company 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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