Assenagon Asset Management S.A. lowered its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 91.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,572 shares of the oil and gas company’s stock after selling 1,339,851 shares during the period. Assenagon Asset Management S.A.’s holdings in Chevron were worth $19,999,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mayflower Financial Advisors LLC boosted its holdings in Chevron by 1.6% in the 4th quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock valued at $16,533,000 after purchasing an additional 1,453 shares during the last quarter. M&R Capital Management Inc. boosted its holdings in Chevron by 9.8% in the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock valued at $1,361,000 after purchasing an additional 674 shares during the last quarter. Albion Financial Group UT boosted its holdings in Chevron by 0.6% in the 4th quarter. Albion Financial Group UT now owns 17,553 shares of the oil and gas company’s stock valued at $3,151,000 after purchasing an additional 105 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in Chevron by 5.1% in the 4th quarter. Miracle Mile Advisors LLC now owns 19,920 shares of the oil and gas company’s stock valued at $3,575,000 after purchasing an additional 965 shares during the last quarter. Finally, WC Walker & Associates Inc. boosted its holdings in Chevron by 12.3% in the 4th quarter. WC Walker & Associates Inc. now owns 3,099 shares of the oil and gas company’s stock valued at $497,000 after purchasing an additional 340 shares during the last quarter. 69.65% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have weighed in on CVX shares. Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $165.00 to $180.00 in a report on Thursday, June 1st. Truist Financial decreased their price objective 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 objective on the stock in a report on Tuesday, May 23rd. Mizuho decreased their price objective on shares of Chevron from $206.00 to $196.00 in a report on Friday, May 19th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $195.00 to $200.00 in a research note on Thursday, April 13th. Nine investment 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 stock currently has an average rating of “Moderate Buy” and an average target price of $191.68.
Chevron Trading Up 0.7 %
Chevron (NYSE:CVX – Free Report) last posted its earnings results 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 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 company’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm posted $3.36 EPS. Equities analysts predict that Chevron Co. will post 13.83 earnings per share for the current fiscal year.
Chevron Announces Dividend
The firm 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. This represents a $6.04 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio is currently 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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