Core Alternative Capital Has $6.33 Million Holdings in Chevron Corporation (NYSE:CVX)

Core Alternative Capital decreased its position in Chevron Corporation (NYSE:CVX) by 16.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,825 shares of the oil and gas company’s stock after selling 7,670 shares during the quarter. Chevron accounts for approximately 1.5% of Core Alternative Capital’s holdings, making the stock its 23rd largest holding. Core Alternative Capital’s holdings in Chevron were worth $6,328,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after acquiring an additional 392,916 shares in the last quarter. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $3,017,750,000. Northern Trust Corp raised 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 purchasing an additional 1,394,091 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Chevron by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company’s stock worth $2,502,850,000 after purchasing an additional 79,917 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Chevron by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company’s stock worth $2,421,564,000 after purchasing an additional 211,023 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday. Scotiabank cut 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. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $165.00 price target (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $160.41.

Chevron Stock Performance

Shares of NYSE CVX opened at $148.23 on Friday. 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 company has a market capitalization of $258.86 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.51 and a beta of 0.83. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a 50 day moving average of $141.16 and a 200-day moving average of $148.10.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

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.