Raymond James Financial Services Advisors Inc. trimmed its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,560,846 shares of the oil and gas company’s stock after selling 10,324 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.08% of Chevron worth $254,668,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of CVX. Rebalance LLC bought a new position in Chevron during the fourth quarter valued at $26,000. Worth Asset Management LLC bought a new position in Chevron during the first quarter valued at $36,000. Red Tortoise LLC bought a new position in Chevron during the fourth quarter valued at $37,000. Western Pacific Wealth Management LP bought a new position in Chevron during the fourth quarter valued at $37,000. Finally, JDM Financial Group LLC bought a new position in Chevron during the fourth quarter valued at $42,000. 69.65% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on CVX. Piper Sandler cut their price target on Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $165.00 to $180.00 in a report on Thursday, June 1st. StockNews.com began coverage on Chevron in a report on Thursday, May 18th. They issued a “hold” rating for the company. Mizuho cut their price target on Chevron from $206.00 to $196.00 in a report on Friday, May 19th. Finally, Raymond James cut their price target on Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a report on Friday, April 14th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.68.
Chevron Trading Up 1.8 %
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 for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The business had revenue of $50.79 billion for the quarter, compared to the consensus estimate of $49.49 billion. During the same quarter last year, the business posted $3.36 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 13.83 EPS for the current fiscal year.
Chevron Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were issued a $1.51 dividend. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 annualized dividend and a dividend yield of 3.92%. Chevron’s dividend payout ratio is currently 32.61%.
Chevron Profile
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
Further Reading
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