HighTower Trust Company N.A. lifted its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,191 shares of the oil and gas company’s stock after purchasing an additional 3,757 shares during the period. Chevron accounts for about 1.3% of HighTower Trust Company N.A.’s portfolio, making the stock its 14th largest holding. HighTower Trust Company N.A.’s holdings in Chevron were worth $13,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Relaxing Retirement Coach acquired a new position in shares of Chevron during the 4th quarter worth approximately $232,000. Burleson & Company LLC boosted its holdings in shares of Chevron by 5.6% during the 4th quarter. Burleson & Company LLC now owns 13,495 shares of the oil and gas company’s stock worth $2,422,000 after purchasing an additional 716 shares during the last quarter. Threadgill Financial LLC raised its position in shares of Chevron by 0.9% during the 4th quarter. Threadgill Financial LLC now owns 17,508 shares of the oil and gas company’s stock valued at $3,143,000 after buying an additional 153 shares during the period. Shilanski & Associates Inc. raised its position in shares of Chevron by 32.8% during the 4th quarter. Shilanski & Associates Inc. now owns 4,199 shares of the oil and gas company’s stock valued at $754,000 after buying an additional 1,037 shares during the period. Finally, Bank of Hawaii raised its position in shares of Chevron by 0.4% during the 4th quarter. Bank of Hawaii now owns 42,587 shares of the oil and gas company’s stock valued at $7,644,000 after buying an additional 157 shares during the period. 69.37% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently commented on CVX. BNP Paribas raised shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target on the stock in a research report on Tuesday, April 4th. Mizuho reaffirmed a “neutral” rating and set a $206.00 price target on shares of Chevron in a research report on Tuesday, April 11th. Truist Financial lifted their price target on shares of Chevron from $179.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. Morgan Stanley reduced their price target on shares of Chevron from $195.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, March 27th. Finally, Raymond James cut their target price on Chevron from $215.00 to $212.00 and set an “outperform” rating on the stock in a research report on Monday, January 30th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $191.11.
Insider Activity at Chevron
Chevron Stock Up 0.2 %
Shares of NYSE CVX opened at $172.44 on Friday. The stock has a market cap of $326.71 billion, a P/E ratio of 9.43, a PEG ratio of 0.83 and a beta of 1.16. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $132.54 and a 12-month high of $189.68. The business’s fifty day simple moving average is $163.82 and its 200-day simple moving average is $170.63.
Chevron (NYSE:CVX – Get Rating) last posted its earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing the consensus estimate of $4.16 by ($0.07). The business had revenue of $56.47 billion during the quarter, compared to analysts’ expectations of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $2.56 EPS. As a group, equities analysts predict that Chevron Co. will post 14.48 EPS for the current fiscal year.
Chevron Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Wednesday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio is 33.04%.
Chevron declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 25th that permits the company to buyback $75.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 21.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Chevron Company Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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