Nicholas Hoffman & Company LLC. raised its stake in Chevron Co. (NYSE:CVX) by 29.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,358 shares of the oil and gas company’s stock after buying an additional 3,901 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Chevron were worth $1,258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wealth Quarterback LLC bought a new position in Chevron in the fourth quarter valued at approximately $16,676,410,000. BlackRock Inc. lifted its stake in Chevron by 4.9% in the first quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock valued at $9,665,343,000 after buying an additional 6,208,177 shares in the last quarter. State Street Corp lifted its stake in Chevron by 1.5% in the fourth quarter. State Street Corp now owns 114,141,035 shares of the oil and gas company’s stock valued at $13,755,136,000 after buying an additional 1,659,702 shares in the last quarter. Capital International Investors lifted its stake in Chevron by 4.6% in the fourth quarter. Capital International Investors now owns 32,580,587 shares of the oil and gas company’s stock valued at $3,926,286,000 after buying an additional 1,429,639 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Chevron by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 27,672,923 shares of the oil and gas company’s stock valued at $3,328,591,000 after purchasing an additional 779,059 shares during the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. ValuEngine downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Cowen lowered their price objective on shares of Chevron from $134.00 to $127.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Co lifted their price objective on shares of Chevron from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Citigroup lowered their price objective on shares of Chevron from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, March 4th. Finally, Mizuho lowered their price objective on shares of Chevron from $140.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Chevron has an average rating of “Buy” and a consensus target price of $113.05.

In related news, Director John Frank acquired 1,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $96.59 per share, for a total transaction of $96,590.00. Following the completion of the acquisition, the director now directly owns 5,114 shares in the company, valued at $493,961.26. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is owned by insiders.

Shares of NYSE:CVX traded down $1.96 on Friday, hitting $90.08. The company had a trading volume of 3,043,266 shares, compared to its average volume of 10,813,790. Chevron Co. has a 1-year low of $51.60 and a 1-year high of $127.00. The stock has a market cap of $173.63 billion, a price-to-earnings ratio of 44.10 and a beta of 1.31. The stock has a 50 day moving average price of $86.38 and a 200 day moving average price of $102.55. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $1.29. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The firm had revenue of $31.50 billion for the quarter, compared to the consensus estimate of $30.46 billion. During the same period in the previous year, the company earned $1.47 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post -0.39 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a $1.29 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.16 annualized dividend and a dividend yield of 5.73%. Chevron’s dividend payout ratio is currently 82.30%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Further Reading: How to Invest in a Bull Market

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.