Chevron Corporation (NYSE:CVX) Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. increased its position in shares of Chevron Corporation (NYSE:CVX) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,062,544 shares of the oil and gas company’s stock after buying an additional 84,786 shares during the quarter. Chevron comprises approximately 0.9% of Bessemer Group Inc.’s portfolio, making the stock its 22nd largest position. Bessemer Group Inc.’s holdings in Chevron were worth $512,334,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC grew its stake in Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after buying an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after acquiring an additional 2,641 shares during the period. Pinnacle West Asset Management Inc. lifted its holdings in shares of Chevron by 3.9% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 15,230 shares of the oil and gas company’s stock worth $2,206,000 after purchasing an additional 575 shares during the period. Sprott Inc. acquired a new stake in shares of Chevron in the 4th quarter worth $432,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in Chevron in the fourth quarter valued at about $46,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and dropped their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Performance

Chevron stock opened at $143.49 on Thursday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s 50 day simple moving average is $139.95 and its 200-day simple moving average is $148.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market cap of $250.59 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its earnings results 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the business posted $2.93 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given 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 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.