Gleason Group Inc. Has $1.85 Million Stock Position in Chevron Co. (NYSE:CVX)

Gleason Group Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,076 shares of the oil and gas company’s stock after buying an additional 116 shares during the quarter. Chevron accounts for 0.3% of Gleason Group Inc.’s investment portfolio, making the stock its 27th largest holding. Gleason Group Inc.’s holdings in Chevron were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new stake in Chevron during the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter worth $29,000. 10Elms LLP bought a new stake in shares of Chevron in the 4th quarter worth $29,000. Fairway Wealth LLC grew its holdings in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the period. Finally, IFS Advisors LLC grew its holdings in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVX shares. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. TD Cowen dropped their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Mizuho lowered their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, Scotiabank cut 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Price Performance

CVX opened at $140.21 on Friday. The firm has a market cap of $244.86 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company’s 50-day moving average price is $138.98 and its 200 day moving average price is $149.81. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations 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. As a group, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.88%. Chevron’s payout ratio is presently 78.17%.

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.