ST Germain D J Co. Inc. Raises Stake in Chevron Co. (NYSE:CVX)

Posted by on Jun 17th, 2023

ST Germain D J Co. Inc. boosted its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 62.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 18,941 shares of the oil and gas company’s stock after purchasing an additional 7,251 shares during the period. ST Germain D J Co. Inc.’s holdings in Chevron were worth $1,408,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cravens & Co Advisors LLC purchased a new position in Chevron during the 4th quarter worth $1,660,000. Builder Investment Group Inc. ADV purchased a new stake in shares of Chevron in the fourth quarter valued at about $4,441,000. Garde Capital Inc. boosted its holdings in shares of Chevron by 20.0% in the fourth quarter. Garde Capital Inc. now owns 1,279 shares of the oil and gas company’s stock valued at $230,000 after acquiring an additional 213 shares in the last quarter. Bridgewealth Advisory Group LLC purchased a new stake in shares of Chevron in the fourth quarter valued at about $1,007,000. Finally, Heritage Wealth Management Inc. Texas purchased a new stake in shares of Chevron in the fourth quarter valued at about $233,000. 69.37% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $157.26 on Friday. The firm has a 50 day simple moving average of $160.58 and a 200-day simple moving average of $166.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.16. The firm has a market cap of $297.95 billion, a PE ratio of 8.49, a P/E/G ratio of 0.80 and a beta of 1.17. Chevron Co. has a 1-year low of $132.54 and a 1-year high of $189.68.

Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. The business had revenue of $50.79 billion during the quarter, compared to analyst estimates of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.36 earnings per share. On average, equities analysts expect that Chevron Co. will post 13.82 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio is presently 32.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler lowered their target price on shares of Chevron from $196.00 to $188.00 in a report on Tuesday. StockNews.com assumed coverage on shares of Chevron in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Raymond James lowered their target price on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a report on Friday, April 14th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $195.00 to $200.00 in a report on Thursday, April 13th. Finally, JPMorgan Chase & Co. raised shares of Chevron from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $161.00 to $170.00 in a report on Wednesday, May 31st. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.68.

About Chevron

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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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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