Weaver Consulting Group boosted its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,976 shares of the oil and gas company’s stock after buying an additional 105 shares during the quarter. Weaver Consulting Group’s holdings in Chevron were worth $975,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of CVX. Moneta Group Investment Advisors LLC grew its position in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the last quarter. Norges Bank acquired a new stake in Chevron during the 4th quarter worth $3,058,235,000. Price T Rowe Associates Inc. MD boosted its stake in Chevron by 79.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,896,009 shares of the oil and gas company’s stock worth $2,494,194,000 after purchasing an additional 6,133,227 shares during the period. Morgan Stanley boosted its stake in Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares during the period. Finally, Edmp Inc. boosted its stake in Chevron by 17,439.1% during the 4th quarter. Edmp Inc. now owns 2,949,893 shares of the oil and gas company’s stock worth $16,435,000 after purchasing an additional 2,933,074 shares during the period. 69.65% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on CVX shares. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $195.00 to $200.00 in a research note on Thursday, April 13th. Raymond James reduced their target price on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a research note on Friday, April 14th. StockNews.com started coverage on shares of Chevron in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Cowen reduced their target price on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. Finally, BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price for the company in a research note on Tuesday, April 4th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $191.68.
Chevron Price Performance
Chevron (NYSE:CVX – Get Rating) last announced its earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.14. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The firm had revenue of $50.79 billion during the quarter, compared to the consensus estimate of $49.49 billion. During the same quarter in the previous year, the company posted $3.36 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 13.82 EPS for the current fiscal year.
Chevron Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were given 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 3.96%. Chevron’s dividend payout ratio (DPR) is currently 32.61%.
Chevron 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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