Exchange Traded Concepts LLC Has $29.41 Million Stock Position in Chevron Co. (NYSE:CVX)

Exchange Traded Concepts LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 32.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,813 shares of the oil and gas company’s stock after purchasing an additional 43,538 shares during the period. Exchange Traded Concepts LLC’s holdings in Chevron were worth $29,412,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron in the fourth quarter worth about $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the fourth quarter worth about $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC lifted its position 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 buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CVX. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. TD Cowen dropped their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $160.24.

Chevron Stock Up 0.5%

Shares of CVX opened at $145.74 on Friday. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $254.52 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $138.53 and a two-hundred day simple moving average of $149.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.93 earnings per share. Research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. 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 payout ratio is presently 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.