FinTrust Capital Advisors LLC boosted its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 26.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,133 shares of the oil and gas company’s stock after purchasing an additional 2,500 shares during the period. FinTrust Capital Advisors LLC’s holdings in Chevron were worth $2,137,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of CVX. Rebalance LLC purchased a new position in shares of Chevron in the 4th quarter valued at $26,000. Western Pacific Wealth Management LP purchased a new position in shares of Chevron in the 4th quarter valued at $37,000. Red Tortoise LLC purchased a new position in shares of Chevron in the 4th quarter valued at $37,000. Worth Asset Management LLC purchased a new position in shares of Chevron in the 1st quarter valued at $36,000. Finally, JDM Financial Group LLC purchased a new position in shares of Chevron in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 69.65% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on CVX. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $195.00 to $200.00 in a research note on Thursday, April 13th. Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $165.00 to $180.00 in a research note on Thursday, June 1st. Raymond James dropped their price target on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a research note on Friday, April 14th. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 price target on the stock in a research note on Tuesday, May 23rd. Finally, Piper Sandler dropped their price target on shares of 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus 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 quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, beating the consensus estimate of $3.41 by $0.14. The business had revenue of $50.79 billion during the quarter, compared to analyst estimates of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.36 EPS. On average, equities analysts forecast that Chevron Co. will post 13.83 earnings per share for the current year.
Chevron Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors 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 3.84%. Chevron’s dividend payout ratio is presently 32.61%.
About Chevron
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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