Vectors Research Management LLC Purchases 1,502 Shares of Chevron Corporation (NYSE:CVX)

Vectors Research Management LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,103 shares of the oil and gas company’s stock after purchasing an additional 1,502 shares during the period. Chevron comprises 1.1% of Vectors Research Management LLC’s portfolio, making the stock its 27th biggest position. Vectors Research Management LLC’s holdings in Chevron were worth $3,196,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the 4th quarter worth about $29,000. 10Elms LLP purchased a new position in Chevron during the 4th quarter valued at about $29,000. Fairway Wealth LLC raised its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Finally, IFS Advisors LLC raised its holdings in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Finally, BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Price Performance

Shares of CVX stock opened at $143.67 on Wednesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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 firm has a market capitalization of $250.90 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.58 and a beta of 0.83. The stock’s 50-day simple moving average is $139.78 and its 200-day simple moving average is $148.49.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS 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 company had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the business earned $2.93 EPS. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.76%. 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.