Chevron Corporation (NYSE:CVX) Holdings Boosted by Calamos Wealth Management LLC

by · The Cerbat Gem

Calamos Wealth Management LLC grew its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,556 shares of the oil and gas company’s stock after purchasing an additional 322 shares during the period. Calamos Wealth Management LLC’s holdings in Chevron were worth $1,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. 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 worth $5,247,142,000 after acquiring an additional 392,916 shares in the last quarter. Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at about $3,017,750,000. Northern Trust Corp lifted its position 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 worth $2,965,135,000 after purchasing an additional 1,394,091 shares in 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 shares of 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 period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.2%

CVX opened at $148.23 on Friday. The firm has a market cap of $258.86 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83. 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 business has a 50 day moving average price of $140.97 and a 200 day moving average price of $148.07. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.93 earnings per share. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. 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 (DPR) is 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research reports. Mizuho dropped their price objective 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 Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. 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 report on Tuesday, May 6th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.41.

View Our Latest Report on Chevron

Chevron Company Profile

(Free Report)

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.

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