Integral Investment Advisors Inc. Raises Stake in Chevron Co. (NYSE:CVX)

Integral Investment Advisors Inc. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,601 shares of the oil and gas company’s stock after acquiring an additional 144 shares during the period. Chevron makes up 0.8% of Integral Investment Advisors Inc.’s investment portfolio, making the stock its 29th largest holding. Integral Investment Advisors Inc.’s holdings in Chevron were worth $2,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Chevron in the fourth quarter worth $3,017,750,000. Raymond James Financial Inc. bought a new position in Chevron in the 4th quarter worth about $1,036,302,000. GAMMA Investing LLC grew its position in Chevron by 21,191.5% during 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 purchasing an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp grew its position in Chevron by 17.3% during 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 purchasing an additional 2,432,756 shares during the last quarter. Finally, Amundi increased its stake in Chevron by 27.7% during 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 purchasing an additional 1,910,262 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVX shares. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. 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 company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Up 1.9%

Shares of CVX opened at $143.40 on Wednesday. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market capitalization of $250.43 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.46 and a beta of 0.83. The stock’s 50-day moving average price is $138.21 and its 200-day moving average price is $149.46. 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 issued 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 net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the company earned $2.93 EPS. The business’s revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current 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 issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

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; 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.