First Business Financial Services Inc. Increases Stock Holdings in Chevron Corporation (NYSE:CVX)

First Business Financial Services Inc. boosted its stake in Chevron Corporation (NYSE:CVXFree Report) by 3.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,822 shares of the oil and gas company’s stock after buying an additional 193 shares during the quarter. First Business Financial Services Inc.’s holdings in Chevron were worth $974,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Eagle Capital Management LLC grew its holdings in shares of Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after acquiring an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Chevron by 7.9% during the fourth 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. Proficio Capital Partners LLC boosted its position in Chevron by 59.5% in the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company’s stock worth $847,000 after purchasing an additional 2,182 shares during the last quarter. Greenwich Wealth Management LLC grew its stake in Chevron by 21.0% in the 4th quarter. Greenwich Wealth Management LLC now owns 3,371 shares of the oil and gas company’s stock valued at $488,000 after purchasing an additional 585 shares during the period. Finally, IMG Wealth Management Inc. bought a new position in Chevron in the 4th quarter valued at $25,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Chevron stock opened at $151.80 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $265.10 billion, a P/E ratio of 17.35, a PEG ratio of 2.63 and a beta of 0.83. The business has a fifty day moving average price of $142.95 and a 200-day moving average price of $148.52.

Chevron (NYSE:CVXGet Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.93 earnings per share. As a group, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.51%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Piper Sandler lifted their target price on Chevron from $162.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company restated an “overweight” rating and set a $165.00 price objective (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and lowered their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $161.65.

Check Out Our Latest Analysis on CVX

About Chevron

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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