Chevron Corporation (NYSE:CVX) Shares Bought by Rice Partnership LLC

Rice Partnership LLC raised its position in Chevron Corporation (NYSE:CVX) by 19.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,620 shares of the oil and gas company’s stock after purchasing an additional 1,566 shares during the quarter. Rice Partnership LLC’s holdings in Chevron were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CVX. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $3,017,750,000. GAMMA Investing LLC boosted its holdings in shares of Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after acquiring an additional 5,382,847 shares in the last quarter. Amundi boosted its holdings in shares of Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after acquiring an additional 1,910,262 shares in the last quarter. Capital World Investors boosted its holdings in shares of Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock valued at $2,039,288,000 after acquiring an additional 1,440,808 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Chevron by 7.3% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.2%

Shares of NYSE:CVX opened at $148.23 on Friday. The stock has a market capitalization of $258.86 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.51 and a beta of 0.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a 50 day moving average price of $141.16 and a 200 day moving average price of $148.10.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping 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 firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the firm posted $2.93 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is 78.17%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $165.00 price objective (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $160.41.

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.