West Branch Capital LLC Buys 2,964 Shares of Chevron Co. (NYSE:CVX)

West Branch Capital LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 30.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,653 shares of the oil and gas company’s stock after acquiring an additional 2,964 shares during the quarter. West Branch Capital LLC’s holdings in Chevron were worth $2,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. bought a new stake in shares of Chevron in the 4th quarter worth approximately $1,036,302,000. GAMMA Investing LLC grew 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 worth $904,746,000 after buying an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp grew 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 worth $2,389,380,000 after buying an additional 2,432,756 shares during the last quarter. Finally, Amundi grew 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 worth $1,323,549,000 after buying an additional 1,910,262 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.5%

Shares of NYSE:CVX opened at $145.74 on Friday. The stock has a fifty day simple moving average of $138.53 and a two-hundred day simple moving average of $149.20. The stock has a market capitalization of $254.52 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced 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. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.93 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CVX shares. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. HSBC cut Chevron from a “buy” rating to a “hold” rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Finally, Piper Sandler lowered their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.