Diversified Trust Co Purchases 882 Shares of Chevron Co. (NYSE:CVX)

Posted by on Jun 20th, 2023

Diversified Trust Co grew its position in Chevron Co. (NYSE:CVX – Get Rating) by 1.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 46,359 shares of the oil and gas company’s stock after acquiring an additional 882 shares during the period. Diversified Trust Co’s holdings in Chevron were worth $7,564,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CVX. Rebalance LLC bought a new position in Chevron during the 4th quarter worth $26,000. Worth Asset Management LLC bought a new position in Chevron during the 1st quarter worth $36,000. Red Tortoise LLC bought a new position in Chevron during the 4th quarter worth $37,000. Western Pacific Wealth Management LP bought a new position in Chevron during the 4th quarter worth $37,000. Finally, JDM Financial Group LLC bought a new position in Chevron during the 4th quarter worth $42,000. 69.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Mizuho lowered their target price on Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. Cowen lowered their target price on Chevron from $185.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, February 24th. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price for the company in a research report on Tuesday, April 4th. UBS Group started coverage on Chevron in a report on Wednesday, April 19th. They set a “buy” rating and a $212.00 price target for the company. Finally, Morgan Stanley increased their price target on Chevron from $192.00 to $198.00 in a report on Tuesday, May 23rd. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.68.

Chevron Stock Performance

Shares of CVX opened at $157.26 on Tuesday. 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 stock has a 50-day moving average of $160.36 and a 200-day moving average of $166.22. The company 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 one year low of $132.54 and a one year high of $189.68.

Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share (EPS) 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 the consensus estimate of $49.49 billion. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.36 EPS. On average, equities research analysts predict that Chevron Co. will post 13.82 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 19th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 dividend on an annualized basis and a yield of 3.84%. Chevron’s dividend payout ratio (DPR) is currently 32.61%.

Chevron Profile

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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.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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