Richard C. Young & CO. LTD. Buys 523 Shares of Chevron Corporation (NYSE:CVX)

Richard C. Young & CO. LTD. boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,433 shares of the oil and gas company’s stock after purchasing an additional 523 shares during the quarter. Chevron comprises 1.8% of Richard C. Young & CO. LTD.’s holdings, making the stock its 18th largest holding. Richard C. Young & CO. LTD.’s holdings in Chevron were worth $17,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI boosted its position in Chevron by 8.7% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 564,140 shares of the oil and gas company’s stock valued at $94,375,000 after purchasing an additional 44,940 shares in the last quarter. Asset Advisors Investment Management LLC boosted its holdings in Chevron by 4.0% in the first quarter. Asset Advisors Investment Management LLC now owns 2,910 shares of the oil and gas company’s stock worth $487,000 after acquiring an additional 111 shares in the last quarter. Easterly Investment Partners LLC boosted its holdings in Chevron by 7.6% in the first quarter. Easterly Investment Partners LLC now owns 43,677 shares of the oil and gas company’s stock worth $7,307,000 after acquiring an additional 3,071 shares in the last quarter. Kooman & Associates boosted its holdings in Chevron by 13.7% in the first quarter. Kooman & Associates now owns 2,584 shares of the oil and gas company’s stock worth $432,000 after acquiring an additional 312 shares in the last quarter. Finally, Members Trust Co boosted its holdings in Chevron by 3.2% in the first quarter. Members Trust Co now owns 3,119 shares of the oil and gas company’s stock worth $522,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report 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. Barclays restated an “equal weight” rating on shares of Chevron in a research note on Tuesday. Piper Sandler restated an “overweight” rating on shares of Chevron in a research note on Tuesday. Finally, 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. 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 stock. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $161.65.

Chevron Stock Down 0.5%

Chevron stock opened at $149.96 on Thursday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a 50 day moving average of $143.53 and a two-hundred day moving average of $148.55. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $261.88 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.56 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, topping analysts’ consensus estimates 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 return on equity of 10.73% and a net margin of 7.76%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.93 EPS. As a group, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.56%. The ex-dividend date 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.