Cadent Capital Advisors LLC decreased its position in Chevron Co. (NYSE:CVX – Free Report) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,163 shares of the oil and gas company’s stock after selling 776 shares during the quarter. Chevron comprises approximately 0.6% of Cadent Capital Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Cadent Capital Advisors LLC’s holdings in Chevron were worth $1,332,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in CVX. Rebalance LLC bought a new stake in shares of Chevron in the fourth quarter valued at approximately $26,000. Western Pacific Wealth Management LP bought a new stake in shares of Chevron during the 4th quarter valued at $37,000. Red Tortoise LLC bought a new position in shares of Chevron in the fourth quarter worth $37,000. Worth Asset Management LLC acquired a new position in Chevron in the first quarter valued at about $36,000. Finally, JDM Financial Group LLC acquired a new stake in Chevron during the fourth quarter worth about $42,000. Institutional investors own 69.65% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CVX. JPMorgan Chase & Co. raised shares of Chevron from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $161.00 to $170.00 in a report on Wednesday, May 31st. Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $165.00 to $180.00 in a report on Thursday, June 1st. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $195.00 to $200.00 in a research report on Thursday, April 13th. UBS Group initiated coverage on shares of Chevron in a report on Wednesday, April 19th. They set a “buy” rating and a $212.00 price target for the company. Finally, Piper Sandler lowered their price objective on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.68.
Chevron Trading Up 0.8 %
Chevron (NYSE:CVX – Free Report) last released its earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.14. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The company had revenue of $50.79 billion during the quarter, compared to analyst estimates of $49.49 billion. During the same period in the prior year, the company posted $3.36 earnings per share. Chevron’s quarterly revenue was down 6.6% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 13.83 EPS for the current fiscal year.
Chevron Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Thursday, May 18th. Chevron’s payout ratio is 32.61%.
Chevron Company 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.
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