Alhambra Investment Partners LLC acquired a new stake in Chevron Co. (NYSE:CVX – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,008 shares of the oil and gas company’s stock, valued at approximately $817,000.
Several other institutional investors also recently bought and sold shares of CVX. AJ Wealth Strategies LLC lifted its stake in shares of Chevron by 1.8% in the 4th quarter. AJ Wealth Strategies LLC now owns 3,092 shares of the oil and gas company’s stock valued at $555,000 after purchasing an additional 56 shares during the last quarter. Howard Capital Management Group LLC lifted its stake in shares of Chevron by 3.3% in the 4th quarter. Howard Capital Management Group LLC now owns 1,792 shares of the oil and gas company’s stock valued at $322,000 after purchasing an additional 57 shares during the last quarter. Aries Wealth Management lifted its stake in Chevron by 0.5% during the 4th quarter. Aries Wealth Management now owns 10,973 shares of the oil and gas company’s stock worth $1,970,000 after acquiring an additional 59 shares in the last quarter. Mendel Capital Management LLC lifted its stake in Chevron by 1.3% during the 4th quarter. Mendel Capital Management LLC now owns 4,663 shares of the oil and gas company’s stock worth $837,000 after acquiring an additional 59 shares in the last quarter. Finally, MV Capital Management Inc. lifted its stake in Chevron by 3.1% during the 4th quarter. MV Capital Management Inc. now owns 1,962 shares of the oil and gas company’s stock worth $352,000 after acquiring an additional 59 shares in the last quarter. 69.65% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently issued reports on CVX shares. StockNews.com started coverage on Chevron in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $195.00 to $200.00 in a research note on Thursday, April 13th. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price on the stock in a research note on Tuesday, April 4th. Truist Financial reduced their price target on Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Finally, HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $189.00 price target on the stock in a research report on Tuesday, May 23rd. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.68.
Chevron Trading Up 0.7 %
Chevron (NYSE:CVX – Free Report) last released its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. The business had revenue of $50.79 billion for the quarter, compared to the consensus estimate of $49.49 billion. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.36 EPS. As a group, equities research analysts expect that Chevron Co. will post 13.83 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were paid a dividend of $1.51 per share. The ex-dividend date was Thursday, May 18th. This represents a $6.04 dividend on an annualized basis and a yield of 3.84%. Chevron’s dividend payout ratio is presently 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.
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