Bellevue Asset Management LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 8.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,143 shares of the oil and gas company’s stock after acquiring an additional 170 shares during the period. Bellevue Asset Management LLC’s holdings in Chevron were worth $191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CVX. Wealth Quarterback LLC bought a new stake in shares of Chevron during the 4th quarter valued at $16,676,410,000. Norges Bank bought a new stake in shares of Chevron during the 4th quarter valued at $2,565,385,000. BlackRock Inc. grew its position in shares of Chevron by 4.9% during the 1st quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock valued at $9,665,343,000 after acquiring an additional 6,208,177 shares during the period. Franklin Resources Inc. grew its position in shares of Chevron by 57.5% during the 1st quarter. Franklin Resources Inc. now owns 13,548,338 shares of the oil and gas company’s stock valued at $981,712,000 after acquiring an additional 4,944,811 shares during the period. Finally, State Street Corp lifted its stake in shares of Chevron by 2.6% during the 1st quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock valued at $8,481,831,000 after buying an additional 2,914,316 shares in the last quarter. 64.86% of the stock is owned by hedge funds and other institutional investors.

NYSE:CVX traded up $4.53 during mid-day trading on Friday, hitting $100.81. 12,752,594 shares of the stock traded hands, compared to its average volume of 12,421,277. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.16. Chevron Co. has a 52 week low of $51.60 and a 52 week high of $127.00. The stock has a market capitalization of $181.43 billion, a price-to-earnings ratio of 49.36 and a beta of 1.30. The firm’s 50 day moving average is $89.96 and its two-hundred day moving average is $100.62.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $1.29. Chevron had a return on equity of 8.28% and a net margin of 2.71%. The business had revenue of $31.50 billion during the quarter, compared to analyst estimates of $30.46 billion. During the same quarter in the previous year, the business earned $1.47 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post -0.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Monday, May 18th. Chevron’s payout ratio is currently 82.30%.

A number of research firms recently weighed in on CVX. Goldman Sachs Group cut shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research note on Monday, May 4th. Independent Research cut shares of Chevron to a “hold” rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. lifted their target price on shares of Chevron from $97.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. TheStreet cut shares of Chevron from a “b-” rating to a “c+” rating in a research note on Thursday, February 27th. Finally, Credit Suisse Group lifted their target price on shares of Chevron from $81.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $112.27.

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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