FUKOKU MUTUAL LIFE INSURANCE Co lessened its holdings in Chevron Co. (NYSE:CVX – Free Report) by 0.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 173,365 shares of the oil and gas company’s stock after selling 781 shares during the period. Chevron comprises 2.6% of FUKOKU MUTUAL LIFE INSURANCE Co’s holdings, making the stock its 12th biggest position. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Chevron were worth $28,286,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Steph & Co. raised its stake in shares of Chevron by 6.3% during the 1st quarter. Steph & Co. now owns 4,943 shares of the oil and gas company’s stock worth $806,000 after acquiring an additional 295 shares in the last quarter. Optas LLC raised its stake in shares of Chevron by 13.7% during the 1st quarter. Optas LLC now owns 1,329 shares of the oil and gas company’s stock worth $217,000 after acquiring an additional 160 shares in the last quarter. Ignite Planners LLC raised its stake in shares of Chevron by 6.7% during the 1st quarter. Ignite Planners LLC now owns 10,054 shares of the oil and gas company’s stock worth $1,692,000 after acquiring an additional 635 shares in the last quarter. Xponance Inc. raised its stake in shares of Chevron by 2.9% during the 1st quarter. Xponance Inc. now owns 220,283 shares of the oil and gas company’s stock worth $35,941,000 after acquiring an additional 6,154 shares in the last quarter. Finally, MJP Associates Inc. ADV raised its stake in shares of Chevron by 14.6% during the 1st quarter. MJP Associates Inc. ADV now owns 3,534 shares of the oil and gas company’s stock worth $577,000 after acquiring an additional 449 shares in the last quarter. Institutional investors own 69.65% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on CVX shares. Mizuho cut their price target on shares of Chevron from $206.00 to $196.00 in a research note on Friday, May 19th. Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $165.00 to $180.00 in a research note on Thursday, June 1st. UBS Group started coverage on shares of Chevron in a research note on Wednesday, April 19th. They set a “buy” rating and a $212.00 price target on the stock. Piper Sandler cut their price target on shares of Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Finally, StockNews.com began coverage on shares of Chevron in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.68.
Chevron Stock Up 0.7 %
Chevron (NYSE:CVX – Free Report) last announced 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 net margin of 14.74% and a return on equity of 23.15%. The business had revenue of $50.79 billion for the quarter, compared to analyst estimates of $49.49 billion. During the same quarter last year, the business earned $3.36 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 13.83 EPS for the current fiscal year.
Chevron Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a $1.51 dividend. The ex-dividend date was Thursday, May 18th. This represents a $6.04 annualized dividend and a dividend yield of 3.84%. Chevron’s dividend payout ratio (DPR) is 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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