Biondo Investment Advisors LLC Boosts Stock Holdings in Chevron Corporation $CVX

Biondo Investment Advisors LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 3.6% during the first quarter, HoldingsChannel.com reports. The firm owned 70,422 shares of the oil and gas company’s stock after acquiring an additional 2,417 shares during the period. Chevron comprises approximately 1.7% of Biondo Investment Advisors LLC’s holdings, making the stock its 23rd biggest holding. Biondo Investment Advisors LLC’s holdings in Chevron were worth $11,781,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Northern Trust Corp raised its stake in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company’s stock valued at $2,421,564,000 after acquiring an additional 211,023 shares during the period. Invesco Ltd. raised its stake in shares of Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after acquiring an additional 827,851 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after acquiring an additional 40,758 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $157.8970 on Friday. The firm has a market cap of $272.84 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.31 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a fifty day moving average of $151.21 and a two-hundred day moving average of $148.66.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the business earned $2.55 EPS. As a group, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Evercore ISI reissued an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Mizuho cut their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and cut their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $163.95.

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.