Threadgill Financial LLC lifted its position in Chevron Co. (NYSE:CVX – Get Rating) by 21.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,208 shares of the oil and gas company’s stock after buying an additional 3,700 shares during the period. Chevron makes up about 4.2% of Threadgill Financial LLC’s portfolio, making the stock its 10th largest position. Threadgill Financial LLC’s holdings in Chevron were worth $3,460,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AJ Wealth Strategies LLC grew its holdings in shares of Chevron by 1.8% during the fourth quarter. AJ Wealth Strategies LLC now owns 3,092 shares of the oil and gas company’s stock worth $555,000 after buying an additional 56 shares in the last quarter. Howard Capital Management Group LLC grew its holdings in shares of Chevron by 3.3% during the fourth quarter. Howard Capital Management Group LLC now owns 1,792 shares of the oil and gas company’s stock worth $322,000 after buying an additional 57 shares in the last quarter. Aries Wealth Management grew its holdings in shares of Chevron by 0.5% in the fourth quarter. Aries Wealth Management now owns 10,973 shares of the oil and gas company’s stock valued at $1,970,000 after purchasing an additional 59 shares during the period. Mendel Capital Management LLC grew its holdings in shares of Chevron by 1.3% in the fourth quarter. Mendel Capital Management LLC now owns 4,663 shares of the oil and gas company’s stock valued at $837,000 after purchasing an additional 59 shares during the period. Finally, MV Capital Management Inc. grew its holdings in shares of Chevron by 3.1% in the fourth quarter. MV Capital Management Inc. now owns 1,962 shares of the oil and gas company’s stock valued at $352,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 69.65% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on CVX shares. StockNews.com started coverage on shares of Chevron in a report on Thursday, May 18th. They issued a “hold” rating for the company. Wells Fargo & Company dropped their price objective on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. Mizuho dropped their price objective on shares of Chevron from $206.00 to $196.00 in a report on Friday, May 19th. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 target price on the stock in a research report on Tuesday, May 23rd. Finally, Truist Financial decreased their target price on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $191.68.
Chevron Stock Down 0.8 %
Chevron (NYSE:CVX – Get Rating) last issued 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. The firm had revenue of $50.79 billion for the quarter, compared to analysts’ expectations of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.36 earnings per share. Analysts forecast that Chevron Co. will post 13.83 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were issued a $1.51 dividend. The ex-dividend date was Thursday, May 18th. This represents a $6.04 annualized dividend and a yield of 3.99%. Chevron’s dividend payout ratio (DPR) is 32.61%.
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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