White Pine Investment CO Has $5.24 Million Stake in Chevron Co. (NYSE:CVX)

White Pine Investment CO increased its position in Chevron Co. (NYSE:CVX – Get Rating) by 0.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 32,134 shares of the oil and gas company’s stock after purchasing an additional 133 shares during the period. Chevron comprises about 1.9% of White Pine Investment CO’s investment portfolio, making the stock its 21st biggest holding. White Pine Investment CO’s holdings in Chevron were worth $5,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rebalance LLC purchased a new stake in Chevron in the 4th quarter worth approximately $26,000. Worth Asset Management LLC purchased a new stake in Chevron in the 1st quarter worth approximately $36,000. Red Tortoise LLC purchased a new stake in Chevron in the 4th quarter worth approximately $37,000. Western Pacific Wealth Management LP purchased a new stake in Chevron in the 4th quarter worth approximately $37,000. Finally, JDM Financial Group LLC purchased a new stake in Chevron in the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 69.65% of the company’s stock.

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Chevron Stock Performance

Shares of CVX opened at $154.01 on Tuesday. The company has a market capitalization of $291.79 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 0.77 and a beta of 1.17. Chevron Co. has a one year low of $132.54 and a one year high of $189.68. 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 company’s fifty day moving average price is $158.60 and its 200 day moving average price is $165.45.

Chevron (NYSE:CVX – Get Rating) last announced its earnings results on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, topping the consensus estimate of $3.41 by $0.14. The firm had revenue of $50.79 billion for the quarter, compared to the consensus estimate of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.36 EPS. As a group, analysts expect that Chevron Co. will post 13.83 earnings per share for the current 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 given a $1.51 dividend. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 annualized dividend and a yield of 3.92%. Chevron’s dividend payout ratio is 32.61%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. UBS Group initiated coverage on shares of Chevron in a research report on Wednesday, April 19th. They issued a “buy” rating and a $212.00 target price for the company. StockNews.com started coverage on shares of Chevron in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Truist Financial cut their price target on shares of Chevron from $193.00 to $190.00 in a report on Monday, May 1st. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 price target on the stock in a report on Tuesday, May 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and raised their price target for the company from $161.00 to $170.00 in a report on Wednesday, May 31st. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.68.

Chevron Company Profile

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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.

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